Expanded horizons
5 months, 1 week ago

Expanded horizons

China Daily  

WANG XIAOYING/CHINA DAILY While the renminbi is being more widely used in China's cross-border payments with Regional Comprehensive Economic Partnership member countries, the US dollar remains the dominant currency used in settlements and payments between other RCEP members, and RCEP cross-border clearing mainly relies on the SWIFT system. First, compared with high-standard free trade agreements, the RCEP needs to strengthen its role in promoting regional economic integration. This includes deepening cooperation with Japan and the ROK in automobiles, machinery and electronics manufacturing, as well as emerging sectors such as big data and artificial intelligence; attracting Japanese and Korean enterprises to invest in China, and making good use of existing China-Japan, China-ROK industrial parks; tapping into China's advantages in the digital economy to strengthen relevant cooperation with ASEAN; and enhancing cooperation with Singapore in electronics, machinery manufacturing, biomedicine and green development. Fourth, China should strengthen currency and financial cooperation with other RCEP members, especially with the ASEAN countries, and strive to reach cooperation agreements with them.

China Trade Japan Financial Cooperation Currency Countries China Daily Members Renminbi Regional Rcep Rok Rcep Members Other Rcep Members  regional  horizons  china  members  trade  currency  renminbi  financial  expanded  countries  rcep  cooperation

History of this topic

India should reconsider its rejection of the RCEP trade bloc
1 month, 1 week ago

India should reconsider its rejection of the RCEP trade bloc

Live Mint  

Five years ago, on a November morning in Bangkok, just on the verge of signing the Regional Comprehensive Economic Partnership agreement, India abruptly walked out of it. India’s RCEP participation should be based on a broad set of metrics—not merely the trade deficit, but also investment inflows, employment creation and participation in new regional value chains. A 2022 assessment by …

RCEP cooperation to continue growing, forum hears
2 months, 4 weeks ago

RCEP cooperation to continue growing, forum hears

China Daily  

MA XUEJING/CHINA DAILY Cooperation among Regional Comprehensive Economic Partnership economies will continue to flourish and create benefits for the people of the region, a forum in South China's Nanning, Guangxi Zhuang autonomous region, opined on Tuesday. RCEP allows the Association of Southeast Asian Nations to progress toward a new level of regional economic integration, laying the foundation for a thriving …

RCEP High-Level Dialogue on Economic and Trade Cooperation held in Guangxi
2 months, 4 weeks ago

RCEP High-Level Dialogue on Economic and Trade Cooperation held in Guangxi

China Daily  

The RCEP High-Level Dialogue on Economic and Trade Cooperation was held on Monday during the 21st China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region. RCEP allows the Association of Southeast Asian Nations to progress towards a new level of regional economic integration, laying the foundation for a thriving digital economy and expanding opportunities for traders and businesses across ASEAN and …

RCEP High-Level Dialogue on Economic and Trade Cooperation held in Guangxi
2 months, 4 weeks ago

RCEP High-Level Dialogue on Economic and Trade Cooperation held in Guangxi

China Daily  

The RCEP High-Level Dialogue on Economic and Trade Cooperation was held on Monday during the 21st China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region. RCEP allows the Association of Southeast Asian Nations to progress towards a new level of regional economic integration, laying the foundation for a thriving digital economy and expanding opportunities for traders and businesses across ASEAN and …

More efforts urged to reap RCEP benefits
3 months, 3 weeks ago

More efforts urged to reap RCEP benefits

China Daily  

Dongguan in South China's Guangdong province is a busy port on the Pearl River. Global experts and leaders called for higher utilization rates under the Regional Comprehensive Economic Partnership, or RCEP, and making collective efforts to unleash the full potential of the framework for economic prosperity for all. "ASEAN members have rather low utilization rates of RCEP, which constrains the …

More efforts urged to reap RCEP benefits
3 months, 3 weeks ago

More efforts urged to reap RCEP benefits

China Daily  

Dongguan in South China's Guangdong province is a busy port on the Pearl River. Global experts and leaders called for higher utilization rates under the Regional Comprehensive Economic Partnership, or RCEP, and making collective efforts to unleash the full potential of the framework for economic prosperity for all. "ASEAN members have rather low utilization rates of RCEP, which constrains the …

RCEP fostering development in Southeast Asia
5 months ago

RCEP fostering development in Southeast Asia

China Daily  

MA XUEJING/CHINA DAILY The Association of Southeast Asian Nations stands at the center of a dynamic economic tapestry in Asia and Oceania. The three countries and ASEAN, with the help of the Regional Comprehensive Economic Partnership agreement, are facilitating the economic development of Southeast Asia through trade, investment, technological innovation, and supply chain integration. China is ASEAN's largest trading partner, …

Expanded horizons
5 months, 1 week ago

Expanded horizons

China Daily  

WANG XIAOYING/CHINA DAILY While the renminbi is being more widely used in China's cross-border payments with Regional Comprehensive Economic Partnership member countries, the US dollar remains the dominant currency used in settlements and payments between other RCEP members, and RCEP cross-border clearing mainly relies on the SWIFT system. First, compared with high-standard free trade agreements, the RCEP needs to strengthen …

Maximizing RCEP's potential
5 months, 2 weeks ago

Maximizing RCEP's potential

China Daily  

MA XUEJING/CHINA DAILY Robust public-private partnerships are key while media and think tanks can direct more resources to help MSMEs fully integrate into the new ecosystems The full implementation of the Regional Comprehensive Economic Partnership agreement by all 15 signatory parties in 2023 marked a key milestone for the establishment of the largest free trade agreement in the world, with …

Appeal of multilateralism and free trade prevails
6 months ago

Appeal of multilateralism and free trade prevails

China Daily  

Vehicles with RCEP written on the body are seen at a port. Chile's application to join the Regional Comprehensive Economic Partnership agreement demonstrates the appeal of the RCEP as the world's largest free trade framework. Against the headwinds of unilateralism and protectionism, multilateral trade mechanisms such as the RCEP have played a prominent role in promoting global economic recovery and …

Appeal of multilateralism and free trade prevails
6 months ago

Appeal of multilateralism and free trade prevails

China Daily  

Vehicles with RCEP written on the body are seen at a port. Chile's application to join the Regional Comprehensive Economic Partnership agreement demonstrates the appeal of the RCEP as the world's largest free trade framework. Against the headwinds of unilateralism and protectionism, multilateral trade mechanisms such as the RCEP have played a prominent role in promoting global economic recovery and …

RCEP fuels regional growth amid economic recovery, challenges
11 months, 2 weeks ago

RCEP fuels regional growth amid economic recovery, challenges

China Daily  

A staff member loads packed durians into a truck at a processing facility in Chumphon, Thailand. Two years on, the world's largest free trade pact in terms of population and trade volume, has unleashed tremendous benefits for regional integration in the Asia-Pacific region and powered up economic recovery. The ASEAN remained China's largest trading partner in the first 11 months …

Chinese minister says India free to join RCEP trade bloc
1 year, 3 months ago

Chinese minister says India free to join RCEP trade bloc

Hindustan Times  

India is free to join the Regional Comprehensive Economic Partnership, China's Vice Commerce Minister Wang Shouwen said on Friday in New Delhi, adding that it would boost trade between India and China which is growing "very fast". The RCEP is the world's largest trade bloc backed by China and groups 15 Asia-Pacific economies, including Australia, Japan, New Zealand and 10 …

RCEP boosts confidence in trade, regional cooperation
1 year, 6 months ago

RCEP boosts confidence in trade, regional cooperation

China Daily  

HEFEI - On June 2, the day the Regional Comprehensive Economic Partnership entered into force in the Philippines, Chizhou Customs in East China's Anhui province issued an RCEP Certificate of Origin for a batch of goods exported to the Southeast Asian country. Yang Jun, chairman of Conch Group Co Ltd, a leader in China's cement industry, said on Friday that …

Yantai firms reap rewards of RCEP
1 year, 10 months ago

Yantai firms reap rewards of RCEP

China Daily  

Foreign trade businesses in the coastal city of Yantai, East China's Shandong province, are reaping the benefits from the Regional Comprehensive Economic Partnership, which took effect on Jan 1, 2022. Doosan Infracore, a South Korea-invested machinery company in the Yantai Area of Shandong FTZ, received a truck load of imported excavator parts from South Korea, and enjoyed an import tariff …

Agreement injects impetus into Asia-Pacific trade
1 year, 11 months ago

Agreement injects impetus into Asia-Pacific trade

China Daily  

While most people were enjoying a good rest to usher in the New Year, warehouses in Guangxi Wuzhou Rixin Plastics Industrial Co Ltd were moving into top gear for a new consignment of exports. The RCEP agreement, which entered into force on Jan 1, 2022, comprises 15 Asia-Pacific countries, including 10 ASEAN member states and five major trading partners — …

Shandong foreign trade benefits from RCEP
1 year, 11 months ago

Shandong foreign trade benefits from RCEP

China Daily  

As the Regional Comprehensive Economic Partnership agreement, or RCEP, has been implemented in more countries, foreign trade companies in Shandong have been leveraging the chance to achieve further development. In 2022, Yantai Longda Foostuffs Co applied for 1,083 RCEP certificates of origin from customs, with the value of export benefits reaching 291 million yuan. Among them, trade made with countries …

Chinese exporters see win-win deals as RCEP takes effect in Indonesia
1 year, 11 months ago

Chinese exporters see win-win deals as RCEP takes effect in Indonesia

China Daily  

Engineering machinery is loaded at Yantai Port, Shandong province, for export to Indonesia. Indonesia's new regulations have specified the procedure of obtaining certificates of origin for goods exported from the Southeast Asian country, as part of implementing the RCEP agreement, said Indonesian Trade Minister Zulkifli Hasan. According to Sun's calculations, the new policy could help his company save more than …

Yantai vows to deepen cooperation with RCEP members
2 years ago

Yantai vows to deepen cooperation with RCEP members

China Daily  

The coastal city of Yantai plans to further enhance cooperation and exchanges with Regional Comprehensive Economic Partnership members, according to statements made at the Conference on International Industrial Cooperation and Exchanges with RCEP 2022, which was held in the city on Nov 25. The conference was held via both online and offline channels, and enterprise representatives from Yantai and RCEP …

CAEXPO gathering highlights role of businesses and operators in RCEP yields
2 years, 3 months ago

CAEXPO gathering highlights role of businesses and operators in RCEP yields

China Daily  

By YANG HAN in Hong Kong and ZHANG LI in Nanning | chinadaily.com.cn | Updated: 2022-09-16 21:21 Liu Ning, Party chief of Guangxi Zhuang autonomous region, delivers welcome remarks at the 2nd RCEP Economic and Trade Cooperation Business Summit and Furthering RCEP Implementation Forum on Sept 16. The business community needs to play a bigger role in the Regional Comprehensive …

Relations with MNCs being enhanced under RCEP
2 years, 5 months ago

Relations with MNCs being enhanced under RCEP

China Daily  

As a window for China's opening-up, the coastal city of Qingdao in Shandong province is participating in international economic and trade cooperation. Accounting for roughly 30 percent of the world's population, GDP and trade, RCEP countries create the world's largest free trade bloc by economic size, making it the biggest driver of global economic growth. Lu Zhiyuan, deputy Party secretary …

RCEP to help upgrade, boost economic growth
2 years, 7 months ago

RCEP to help upgrade, boost economic growth

China Daily  

Workers operate on a production line for export-bound electronic devices at a factory in Pingxiang, Guangxi Zhuang autonomous region. "As Chinese importers face multiple pressures, the RCEP is expected to provide more growth room for the nation's exports through creating new market demand with tariff concessions," said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and …

RCEP helps build regional resilience, boost economic recovery, says Thai commerce official
2 years, 8 months ago

RCEP helps build regional resilience, boost economic recovery, says Thai commerce official

China Daily  

Aerial photo taken on Dec 1, 2021 shows the container terminal in Lianyungang, East China's Jiangsu province. BANGKOK -- The Regional Comprehensive Economic Partnership, which took effect in January, is set to play an important role in building the region's resilience through inclusive and sustainable post-pandemic economic recovery, a Thai commerce official said. RCEP is aimed at creating a new …

Japan still hopes India will re-join RCEP: Japan Cabinet official Noriyuki Shikata
2 years, 9 months ago

Japan still hopes India will re-join RCEP: Japan Cabinet official Noriyuki Shikata

The Hindu  

Japan has still not given up hope that India might reconsider joining the Regional Comprehensive Economic Partnership that it quit in 2019, a senior Japanese official said, indicating that India-Japan collaborations in other countries may be impacted if India continues to stay out. “RCEP will benefit the Indian economy with a better supply chain, especially with ASEAN countries,” Japan’s Cabinet …

Coastal province to ride wave of expansive trade agreement
2 years, 11 months ago

Coastal province to ride wave of expansive trade agreement

China Daily  

RCEP helps Shandong forge stronger links with booming East Asian economies Coastal Shandong province is poised to play a larger role in economic integration with Japan and South Korea by utilizing opportunities offered by the Regional Comprehensive Economic Partnership agreement, which now encompasses China and the two big East Asian economies in the same free trade framework for the first …

RCEP galvanizes Shinan's high-speed development
2 years, 11 months ago

RCEP galvanizes Shinan's high-speed development

China Daily  

With the Regional Comprehensive Economic Partnership or RCEP trading agreement having come into effect on Jan 1, Shinan district – located in Qingdao city in East China's Shandong province – is tapping its potential and moving to create an attractive and quality environment that will galvanize the development of foreign trade, according to local media reports on Jan 13. Fifteen …

World's largest free trade deal boosts confidence of enterprises
2 years, 11 months ago

World's largest free trade deal boosts confidence of enterprises

China Daily  

BEIJING -- Soon after midnight on New Year's Day, a freight train departed from South China's Guangxi Zhuang autonomous region for Vietnam, a member country of the Regional Comprehensive Economic Partnership. The RCEP -- the world's largest free trade deal -- came into force on Saturday. "The company and overseas partners both benefit a lot from following the trend of …

RCEP comes into effect on first day of 2022
2 years, 11 months ago

RCEP comes into effect on first day of 2022

China Daily  

BEIJING - The Regional Comprehensive Economic Partnership agreement, the world's largest free trade agreement, entered into force on Saturday. After the agreement takes effect, more than 90 percent of merchandise trade among members that have approved the agreement will eventually be subject to zero tariffs. With optimized trade rules among signatories, streamlined procedures and wider opening-up in the sectors of …

Asia looks to China-focused trade bloc for virus recovery
2 years, 11 months ago

Asia looks to China-focused trade bloc for virus recovery

Associated Press  

BANGKOK — Members of a China-centered Asian trade bloc that takes effect Jan. 1 are hoping the initiative, encompassing about a third of world trade and business activity, will help power their recoveries from the pandemic. Beijing is fully prepared for the new trading bloc, having already fulfilled 701 “binding obligations” for RCEP, Chinese vice minister for commerce Ren Hongbin …

RCEP poised to boost trade, investment in Asia-Pacific
3 years, 1 month ago

RCEP poised to boost trade, investment in Asia-Pacific

China Daily  

By ZHAO RUINAN| China Daily| Updated :2021-11-24 The Regional Comprehensive Economic Partnership will facilitate trade and investment in the Asia-Pacific region, boost post-pandemic economic recovery and set an example for regional and multilateral cooperation, analysts said. The trade deal, which is designed to remove tariffs on about 90 percent of goods, will facilitate trade and investment in the region, especially …

RCEP poised to boost trade, investment in Asia-Pacific
3 years, 1 month ago

RCEP poised to boost trade, investment in Asia-Pacific

China Daily  

The Regional Comprehensive Economic Partnership will facilitate trade and investment in the Asia-Pacific region, boost post-pandemic economic recovery and set an example for regional and multilateral cooperation, analysts said. The trade deal, which is designed to remove tariffs on about 90 percent of goods, will facilitate trade and investment in the region, especially as it will follow the past two …

Shandong promotes agricultural products export with RECP members
3 years, 3 months ago

Shandong promotes agricultural products export with RECP members

China Daily  

East China's Shandong province held an online exhibition to promote agricultural products export with RCEP countries on Aug 26. RCEP member countries have always been important agricultural trade partners of Shandong, said local officials. In 2020, the trade volume of agricultural products between Shandong and RCEP countries reached 89.42 billion yuan, with 69.35 billion yuan in exports and 20.07 billion …

Regional Comprehensive Economic Partnership
3 years, 4 months ago

Regional Comprehensive Economic Partnership

Hindustan Times  

Then President George W Bush announced in 2008 to join trade talks with a group comprising Brunei, Chile, New Zealand, and Singapore that had reached a trade agreement in 2005. Later, in 2008, Australia, Vietnam, Peru Canada, Japan, Malaysia, and Mexico joined the talks, making twelve countries in all, for what became to be called Trans Pacific Partnership. PREMIUM Former …

RCEP countries urged to integrate, restructure resources to restore global growth
3 years, 7 months ago

RCEP countries urged to integrate, restructure resources to restore global growth

China Daily  

The Regional Comprehensive Economic Partnership's participating countries are urged to integrate high-quality resources, and restructure supply and value chains to create a new force for restoring global economic growth, according to a joint statement released by business associations of the pact's member economies. With a view to accelerating the RCEP agreement to enter into force as early as possible, and …

RCEP countries urged to integrate, restructure resources to restore global growth
3 years, 7 months ago

RCEP countries urged to integrate, restructure resources to restore global growth

China Daily  

The Regional Comprehensive Economic Partnership's participating countries are urged to integrate high-quality resources, and restructure supply and value chains to create a new force for restoring global economic growth, according to a joint statement released by business associations of the pact's member economies. With a view to accelerating the RCEP agreement to enter into force as early as possible, and …

Qingdao hosts RCEP forum for economic and trade cooperation
3 years, 7 months ago

Qingdao hosts RCEP forum for economic and trade cooperation

China Daily  

The RCEP Qingdao Pilot Innovation Base for Economic and Trade Cooperation starts construction on Jan 18. The Regional Comprehensive Economic Partnership High-level Forum for Economic and Trade Cooperation was launched in the eastern coastal city of Qingdao, Shandong province on April 25. Lin Yuhui, secretary-general of ASEAN Secretariat, said that the RCEP agreement has led to modern, comprehensive, high-quality, and …

Shandong to seize RCEP opportunities in new era
3 years, 10 months ago

Shandong to seize RCEP opportunities in new era

China Daily  

Shandong's top officials highlighted the need to seize opportunities arising from the signing of the Regional Comprehensive Economic Partnership agreement and explore new areas for international trade and commerce during the fifth session of the 13th Shandong Provincial People's Congress. According to this year's Shandong provincial government work report, the province will build an RCEP pilot zone for local economic …

Tianjin envisions growing importance with signing of RCEP
4 years ago

Tianjin envisions growing importance with signing of RCEP

China Daily  

The recent formal signing of the Regional Comprehensive Economic Partnership agreement by 15 states, marking the birth of the world's largest free trade area, will increase Tianjin’s importance as the international shipment spot in northern China. By lowering tariffs and non-tariff barriers between the members and expanding market access to services and investment, the deal promotes regional trade and investment …

Tianjin envisions growing importance with signing of RCEP
4 years ago

Tianjin envisions growing importance with signing of RCEP

China Daily  

The recent formal signing of the Regional Comprehensive Economic Partnership agreement by 15 states, marking the birth of the world's largest free trade area, will increase Tianjin’s importance as the international shipment spot in northern China. By lowering tariffs and non-tariff barriers between the members and expanding market access to services and investment, the deal promotes regional trade and investment …

Significant stepping stone
4 years ago

Significant stepping stone

China Daily  

The Regional Comprehensive Economic Partnership will likely shape the future of trade in Asia and beyond CAI MENG/CHINA DAILY The signing of the Regional Comprehensive Economic Partnership agreement on Nov 15 concluded eight years of negotiations among the members of the Association of Southeast Asian Nations, Australia, China, Japan, the Republic of Korea and New Zealand. In 2018, the overall …

RCEP and China: A deal that can make a difference
4 years ago

RCEP and China: A deal that can make a difference

The Hindu  

Amonth after the signing of the Regional Comprehensive Economic Partnership agreement by 15 countries in the Asia-Pacific region, speculation on what its economic and strategic fallout could be has waned. Moreover, other than reducing tariffs from already low levels and harmonising clauses relating to different aspects of trade in the different agreements that rule in the region, the new deal …

India in Talks with Australia for Bilateral Free Trade Pact, Says Jaishankar
4 years ago

India in Talks with Australia for Bilateral Free Trade Pact, Says Jaishankar

News 18  

India and Australia are in discussions for a bilateral free trade agreement, Indian Foreign Minister Subrahmanyam Jaishankar said on Wednesday, following New Delhi's decision to walk out of a China-backed trade bloc. "There is a discussion on a free trade agreement, a bilateral free trade agreement as well because, as you know, we didn't sign the RCEP," Jaishankar said in …

Sreeram Chaulia | Beyond the RCEP: India matters in Indo-Pacific
4 years, 1 month ago

Sreeram Chaulia | Beyond the RCEP: India matters in Indo-Pacific

Deccan Chronicle  

Since the signing of the Regional Comprehensive Economic Partnership agreement by 15 nations on November 15, criticism of India for sitting out the mega free trade pact has arisen in some quarters. Signing these FTAs did increase overall trade volumes between India and its partner countries, but India’s market became more open to imports without reciprocal benefits for Indian exports. …

India’s no to RCEP could still be a no
4 years, 1 month ago

India’s no to RCEP could still be a no

The Hindu  

Last week, 15 East Asian countries agreed to take their economic integration several notches higher by forging the Regional Comprehensive Economic Partnership, the largest free trade agreement ever. These countries had adopted a resolution “to establish an ASEAN-led process by setting out principles” that would allow ASEAN members to “engage interested ASEAN FTA partners in establishing a regional comprehensive economic …

Joining RCEP Would Have Had Negative Consequences for Indian Economy, Says S Jaishankar
4 years, 1 month ago

Joining RCEP Would Have Had Negative Consequences for Indian Economy, Says S Jaishankar

News 18  

India pulled out of the Regional Comprehensive Economic Partnership last year as joining it would have resulted in fairly negative consequences for the country’s economy, External Affairs Minister S Jaishankar said on Wednesday. In an address at an online discussion organised by the Centre for European Policy Studies, Jaishankar also forcefully pressed for reform of the United Nations, saying one …

Trade deal comes at right time
4 years, 1 month ago

Trade deal comes at right time

China Daily  

The signing ceremony of the Regional Comprehensive Economic Partnership agreement is held via video conference in Hanoi, capital of Vietnam, on Nov 15, 2020. The signing could not come at a better time after nearly four years of US President Donald Trump's "America First" unilateral and protectionist trade policies, which have wreaked havoc on global trade and supply chains, especially …

What happens now the RCEP trade deal, the world’s biggest, has been signed?
4 years, 1 month ago

What happens now the RCEP trade deal, the world’s biggest, has been signed?

Live Mint  

Fifteen Asia-Pacific economies signed what could become the world's largest free trade agreement on Sunday, covering nearly a third of the global population and about 30% of its global gross domestic product. RCEP includes China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South East Asian Nations : Brunei, Vietnam, Laos, Cambodia, Thailand, Myanmar, …

Explainer: What Happens Now The RCEP Trade Deal Has Been Signed?
4 years, 1 month ago

Explainer: What Happens Now The RCEP Trade Deal Has Been Signed?

News 18  

Fifteen Asia-Pacific economies signed what could become the world’s largest free trade agreement on Sunday, covering nearly a third of the global population and about 30% of its global gross domestic product. RCEP includes China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South East Asian Nations : Brunei, Vietnam, Laos, Cambodia, Thailand, Myanmar, …

Deccan Dialogue: EAM Jaishankar explains RCEP stance, lauds India's Vande Bharat Mission
4 years, 1 month ago

Deccan Dialogue: EAM Jaishankar explains RCEP stance, lauds India's Vande Bharat Mission

India Today  

External Affairs Minister S Jaishankar virtually addressed the Deccan Dialogue organised by ISB, Hyderabad, on Monday. Indian and RCEP trading bloc One of the original negotiating participants, India walked out of the RCEP talks in 2019 citing "outstanding issues". As one of the 16 original participating countries, India's accession to the RCEP Agreement would be welcome in view of its …

Discover Related