China to Take Practical Actions to Promote RCEP Implementation

Original caption: China to take practical actions to promote RCEP implementation

In response to the regional comprehensive economic partnership agreement (RCEP), the executive meeting of the Council of State held on 1meetingIt was proposed that, as a member of the agreement, China should actively promote the implementation of the agreement with its own actions and make specific arrangements.

On November 15, the RCEP was formally signed at the East Asia Cooperation Leaders Meeting. As the world’s largest free trade agreement, the signing of the RCEP is for member states to jointly respond to the international environment.Uncertainty, Further promote thefree trade,stableindustrychainsupply chainAnd promoting China’s high-level openness is of great importance.

Compared to other free trade agreements, the RCEP has achieved a high level of openness in many respects.goodsFor example, once the agreement goes into effect, more than 90% of theTrade in goodsWill finally come trueZero fee；ServiceIn terms of trade, China’s overall openness commitments are significantly higher than existing free trade agreements between member states.investmentAppearance, this is the first time that ChinaNegative listCommitment to the investment field, etc.

To promote the early entry into force of the agreement, the meeting proposed a series of specific measures, such as zero tariffs for the trade of goods in the region after the implementation of the agreement.productThe total amount will reach 90%, etc., and the tariff reduction,customsSimplified procedures,Rules of originTechnical preparations,Product standardsIn terms of unification and mutual recognition, we must immediately take action to implement the agreement and endeavor to release goods such as express and perishable goods within 6 hours.

With regard to the opening of trade in services, we must follow theadministrationadvisory,manufacturingRelevant services, elderly care services, professional design, construction and many other service departments have made new openness commitments to implement openness measures one by one. In terms of investment, the commitment to the negative investment list is implemented and no restrictions will be added to foreign investment outside the list.

The meeting also made clear that there is a need to quickly resolve and improve the rules and regulations related to the implementation of the agreement, and through advocacy and training.companyFamiliarize yourself with and master the rules of the agreement.

Tu Xinquan, dean of the China WTO Research Institute at the University of International Business and Economics, said the meeting implemented a series of specific measures, clarified the division of tasks and timing, and demonstrated China’s determination to promote the implementation of the RCEP and its sincerity in a greater openness. This will not only further promote China’s high-level opening-up, but also help enterprises to recognize the opportunities and challenges that high-level opening brings, in order to better expand the development space.

(Article source:Xinhuanet）

(Responsible editor: DF524)