To Establish 'Overseas Warehouse' in RCEP Countries, a New Opportunity for Henan Exporters
China formally signed the Regional Comprehensive Economic Partnership, or RCEP, on November 15, 2020, not only a milestone in its opening-up, but also a major achievement after its accession to the WTO. What opportunities will the RCEP throw up for the enterprises in Central China's Henan province?
To establish "overseas warehouse" in RCEP countries, a new opportunity for Henan exporters. [Photo provided to Dahe Daily]
To promote Henan's foreign trade under the RCEP framework, 12 measures have been implemented, said Zhengzhou Customs on June 7, including expanding exports and high-quality imports, strengthening support for enterprises, facilitating customs clearance, safeguarding high-level opening-up, and further optimizing business environment.
What benefits will local enterprises and residents obtain from the policy of expanding exports and high-quality imports? According to a source from Zhengzhou Customs, they will carefully analyze tariff concessions of the other 14 RCEP member countries to find out both the MFN and the RCEP tariff rates for Henan's competitive products in agriculture, mechanic engineering, textile industry, chemical industry, etc. Besides, key enterprises will be selected. Guided with targeted support schemes, these enterprises are to fully enjoy the RCEP tariff rates and expand exports in a more oriented way.
"The export of Henan's featured products, such as wig products, down-filled coats, shoes and agricultural products, to the RCEP member countries through cross-border e-commerce trade is supported, so is the establishment of 'overseas warehouse' in such countries by Henan's cross-border e-commerce exporters to enhance their market competitiveness," said the source.
As for high-quality imports, Zhengzhou Customs will deeply analyze Henan's industrial structure, consumer and market demand to not only actively expand the imports of advanced technologies, important equipment and key spare parts from the RCEP member countries but support the imports of daily consumer goods, pharmaceuticals, rehabilitation and old-age care equipment to improve the quality of the supply system and to meet the demands for upgrading consumption within the province. Besides, Henan's cross-border e-commerce importers are also supported to expand their procurement of products from the RCEP member countries.
Dubbed the free trade areas with the world's largest population, business scale and development potential, the RCEP member countries cover about 30 percent of the world's population, business scale and total exports. In 2020, Henan's import and export trade with the RCEP member countries totaled 187.8 billion yuan, accounting for about 28 percent of the provincial total, of whom the ASEAN, South Korea, Japan and Australia became the province's 2nd, 5th, 6th and 9th largest trade partner. For Henan, the RCEP agreement is bound to help the province to follow the international high-level economic and trade rules, to accelerate opening-up based on related rules and institutions and to develop a new system for an open economy at a higher level.
据悉，RCEP成员国人口数量、经贸规模和出口总额均占全球总量约30%，是世界上人口最多、经贸规模最大、最具发展潜力的自由贸易区。2020年，河南省对RCEP成员国进出口规模达1878亿元，约占全省总额28%，其中东盟、韩国、日本、澳大利亚分别为我省第2、第5、第6以及第9大贸易伙伴。对于我省而言，RCEP的签署将有助于对标国际高水平经贸规则，加快制度型开放，推动建设更高水平开放型经济新体制。（中文来源/大河报 翻译/赵汉青 审校/张军平）