What impact will RCEP bring to China?

RCEP stands for Regional Comprehensive Economic Partnership Agreement. It was initiated by 10 ASEAN countries in 20 12, and 15 contracting parties * * * agreed to the agreement. Now, the economic and trade ministers of 15 RCEP member countries will formally sign the agreement at the ceremony. It marks that China will enter a new trade journey, and it also marks the establishment of the world's largest free trade zone with a population of 2.2 billion, a total GDP of 25.6 trillion US dollars and an intra-regional trade volume of 10.4 trillion US dollars.

RCEP consists of 20 chapters, including the characteristics of FTA, access standards for trade in goods and services, etc. , covering many aspects, mainly reflected in the opening level of goods trade reaching more than 90%, and the tariff reduction to zero; And investment liberalization.

For the country, with the recent development, China occupies an important position in the global product production. The signing of RCEP will be beneficial to import and export trade and investment, especially in the chemical industry. Domestic traditional chemical industry has overcapacity, but high-precision chemicals rely on imported resources, while Japan and South Korea are the main countries that import high-end chemical materials. With the reduction of tariffs, it is beneficial to the output of domestic products and reduces the procurement cost of high-tech industries. Moreover, it will take a long time to reduce tariffs, which is also conducive to exchanges between China and other countries.

For domestic producers, there are advantages and disadvantages, which can increase sales and reduce costs. After forming unified regional rules, business risks can be reduced. However, without the protection of trade barriers, the entry threshold of foreign enterprises will be lowered, which means more intense market competition, and some enterprises will inevitably need to improve. Even in such a big environment, if they don't change, they will be eliminated.

For us ordinary people, you may find shopping cheaper, especially fruits from Southeast Asia and products from Japan and South Korea. These things enter our country with lower tariffs, so the cost is low and the sales volume is bound to decrease. It is more convenient to travel. With the free flow of people between 15 countries, it is more convenient to go to neighboring countries.