RCEP signs the Ministry of Commerce: further strengthen the regional industrial chain and supply chain resilience

category:Finance
 RCEP signs the Ministry of Commerce: further strengthen the regional industrial chain and supply chain resilience


Summit said that RCEP will create a fair, transparent, stable and predictable policy environment for Chinas foreign trade and related enterprises. The implementation of tariff reduction, opening market access, removing barriers affecting trade, and simplifying customs clearance procedures among RCEP members will further reduce the trade cost in RCEP region, promote trade facilitation, and play a positive role in promoting the growth of trade and investment among countries in the region.

Gaofeng also said that for China, it is conducive to promoting import diversification, stimulating import potential, optimizing the import structure, expanding the import of advanced technology, equipment and spare parts, as well as the import of resource goods with domestic demand; at the same time, it is conducive to stabilizing Chinas exports to regional countries. In addition, RCEP is also conducive to the layout of enterprises in the region, better allocation of factor resources in the region, and further enhance the resilience of the regional industrial chain and supply chain.

Gao Feng said that the signing of RCEP will strongly promote the balanced development of Chinas foreign trade import and export. RCEP is mutually beneficial. On the one hand, it is conducive to promoting the diversification of Chinas import and expanding the import of advanced technology, equipment and spare parts; on the other hand, it will also help China to stabilize its exports to regional countries and maintain the security and stability of its industrial chain and supply chain.

Regarding whether Hong Kong can join RCEP, Gao Feng said that the signing of RCEP will add new impetus to the development and prosperity of the region and contribute to the recovery growth of the world economy. China actively supports Hong Kongs participation in international and regional economic cooperation, and will support Hong Kongs early accession to RCEP in accordance with the RCEPs provisions on the accession of new members and the actual needs of Hong Kongs development.