On 26 Jan. 2022, China’s Ministry of Commerce and five other ministries jointly issued the “Guiding Opinions on the High-Quality Implementation of Regional Comprehensive Economic Partnership (RCEP)” (hereinafter “the Opinions”, 關(guān)于高質(zhì)量實(shí)施<區(qū)域全面經(jīng)濟(jì)伙伴關(guān)系協(xié)定>的指導(dǎo)意見).
The Opinions mainly encourages the Chinese enterprises to seize the opportunities under RECP to further promote their trade and investment.
The Opinions touches upon the following aspects:
- Encourage Chinese enterprises to utilize the lower-tariff commitment of RCEP member countries, promoting the export of high-quality products;
- Encourage Chinese enterprises to make full use of the regional cumulative effects in the origins and provide guidance for them to use the facilitation measures including the declaration of origin;
- Accelerate the mutual recognition of the Authorized Economic Operator (AEO) and cooperation with RECP member countries;
- Improve the domestic intellectual property protection mechanism in accordance with the RECP IP rules and promote accession to international treaties regarding IP protection;
- Promote the e-commerce platforms to globalize their operations and improve the construction of global e-commerce infrastructure such as warehousing, logistics and e-payment; and,
- Promote the settlements in RMB for trade and investment within the RECP regions.
The RCEP entered into force on 1 Jan. 2022 for six ASEAN members including Brunei, Cambodia, Laos, Singapore, Thailand and Vietnam, as well as four non-ASEAN members including China, Japan, New Zealand and Australia.
Cover Photo by 孫 銘澤 on Unsplash
Contributors: CJO Staff Contributors Team
