21st Century Business Herald:

How was the trade situation between China and other RCEP member countries in the first quarter? What are your expectations for China's future trade with these countries? What efforts has the GACC made in advancing the implementation of the RCEP? Thank you.

Wang Lingjun:

Thank you for your questions. The RCEP, which came into effect on Jan. 1, 2022, has been in force for nearly two years and four months. It has fostered close trade ties among member countries and serves as a vivid example of regional countries sharing development opportunities. I'd like to ask Mr. Lyu to elaborate on the situation.

Lyu Daliang:

I will outline China's import and export situation with other RCEP member countries in the first quarter of this year. According to customs data, total trade between China and the other 14 RCEP countries reached 3.08 trillion yuan, marking a 2.7% increase. This accounted for 30.3% of China's total trade in goods . The trade data reveals the following two main characteristics:

First, regional cooperation has become even closer. In the first quarter, China's exports to other RCEP member countries reached 1.6 trillion yuan, growing by 2%. Among them, the export of intermediate goods increased by 2.1%, accounting for 31.7% of China's total intermediate goods exports. Exports of electronic components and labor-intensive intermediate goods both maintained double-digit growth. During the same period, China's imports from other RCEP member countries amounted to 1.48 trillion yuan, marking a 3.4% increase. Bulk commodities, primarily consisting of metal ores and energy products, saw a 2.8% increase in import volume, constituting 42.3% of China's total bulk commodity imports. The import and export of intermediate products demonstrate the close economic ties and cooperative relationships between regional members.

Second, many import and export enterprises have enjoyed tangible benefits. In the first quarter, imports under the RCEP framework enjoyed preferential treatment worth 24.69 billion yuan, with a tax concession of 670 million yuan, marking increases of 35.3% and 38.7%, respectively. This benefited 4,320 enterprises. In terms of exports, 18,000 enterprises applied for RCEP certificates of origin, covering goods valued at 63.94 billion yuan, reflecting a 2.6% increase. Furthermore, 729 approved exporters issued RCEP statements of origin, involving goods valued at 2.41 billion yuan, marking a 12.6% increase. These measures have brought tangible benefits to relevant enterprises.

As Mr. Wang mentioned, the RCEP has been officially implemented for over two years now. During this period, the GACC has diligently implemented the arrangements of the CPC Central Committee and the State Council regarding the implementation of the RCEP. We have focused on building a globally-oriented network of high-standard free trade areas, implementing customs procedures and trade facilitation rules, strengthening international cooperation in animal and plant quarantine and food safety, continuously improving the quality of public services for the RCEP, and promoting the effective implementation of policies such as tariff concession under the RCEP framework.

Next, the GACC is committed to maintaining high-quality implementation of all RCEP-related initiatives. We will enhance international exchanges and cooperation with customs authorities of RCEP member countries, promote the establishment of an online platform providing services related to certificates of origin and preferential treatment for enterprises, conduct training in RCEP-related fields, and help local governments, industries and enterprises seize opportunities under the RCEP framework and fully benefit from policy dividends. Thank you.