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E-mail China.org.cn, January 19, 2024
ThePaper.cn:
Jan. 1, 2024 marks the second anniversary of the launch of the Regional Comprehensive Economic Partnership (RCEP) agreement. Can you outline the trade that took place between China and RCEP members in 2023 and what key measures customs took to promote the RCEP work last year? Thank you.
Wang Lingjun:
It is meaningful to review the results of RCEP on the occasion of its second anniversary. I invite Mr. Lyu to answer your questions.
Lyu Daliang:
It has been two years since RCEP took effect. Over the past two years, costs of regional trade have been significantly reduced, industrial and supply chains are more closely linked, and trade links between RCEP members have become closer. According to statistics, trade between China and the 14 other RCEP member countries amounted to 12.6 trillion yuan ($1.77 trillion) in 2023, an increase of 5.3% compared to the period before the agreement came into effect in 2021. RCEP has continued to bring tangible dividends and benefits for member countries and enterprises.
First, cooperation in industrial and supply chains has deepened. In 2023, China's exports to fellow RCEP member countries reached 6.41 trillion yuan, constituting 27% of its total exports. This marked a 1.1 percentage points increase from 2021. Notably, exports of equipment manufacturing expanded by 32.8%, contributing a 6.5 percentage points increase in its share of China's exports to other RCEP countries. Exports in lithium batteries, automotive components, and flat-panel display modules saw significant growth. In the same year, China's imports from other RCEP countries stood at 6.19 trillion yuan, accounting for 34.4% of the nation's total imports. Specifically, the import volume of energy products rose by 31.2% from 2021, comprising 32.4% of China's total energy product imports, a 2.5 percentage points increase.
Second, preferential tariffs have brought continuous benefits to related enterprises. RCEP , in conjunction with existing bilateral free trade agreements between China and other RCEP countries, allows companies to enjoy more favorable tariff terms. In 2023, relevant companies saved 2.36 billion yuan in taxes on 90.52 billion yuan of imports under RCEP, primarily in plastics and plastic products, machinery and parts, and organic chemicals, among others. They also saved 4.05 billion yuan in tax concessions on 270.07 billion yuan of preferential exports within RCEP, mainly including inorganic chemicals, clothing and clothing accessories, and plastics and plastic products, among others. Nationwide, 723 approved exporters independently issued 12,000 RCEP declarations of origin, amounting to a value of 10.18 billion yuan.
Over the past two years, the customs authority has steadfastly implemented the plans of the CPC Central Committee and the State Council regarding RCEP execution, maintaining high standards in customs procedures and trade facilitation. Additionally, it has bolstered international cooperation on animal and plant quarantine, as well as food safety, and ensured that the preferential rules of origin are effectively applied. Simultaneously, the customs authority has been attentive to the specific demands of enterprises, continuously improving the quality of public services provided within the RCEP framework.
Moving forward, we will strengthen international collaboration with customs authorities of other RCEP member countries. We will stay informed about the latest developments of the members and closely monitor the implementation of measures concerning trade facilitation and tariff preferences. Additionally, we plan to organize RCEP-related training to improve the overall execution standards of the RCEP agreement. This initiative aims to create new opportunities for the development of enterprises within the agreement and inject new energy into regional economic cooperation.
Thank you.
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