Xinhua Silk Road: Experts from home and abroad gather in Huangshan to ride RCEP momentum for win-win cooperation

PRNewswire June 27, 2024

BEIJING, June 27, 2024 /PRNewswire/ — The 2024 RCEP Local Governments and Friendship Cities Cooperation (Huangshan) Forum was held recently in Huangshan City of east China’s Anhui Province, gathering experts and enterprises from RCEP member countries to share views on effects and prospects of RCEP.

During the forum, the Report on Development of RCEP’s Regional Cooperation 2024 was jointly released by Chinese Academy of International Trade and Economic Cooperation and China Economic Information Service (CEIS).

The report conducted a macro analysis of the progress in the RCEP implementation and a micro assessment of the questionnaire on Chinese enterprises, proposing constructive suggestions for the comprehensive and high-quality implementation of the RCEP and enhancing the momentum of regional cooperation, introduced Yu Zirong, deputy director of Chinese Academy of International Trade and Economic Cooperation.

To promote high-quality implementation of RCEP, China’s Ministry of Commerce (MOC) has held 18 RCEP thematic training sessions with participation of more than 1.3 million people nationwide. The trainings have significantly enhanced the awareness and ability of enterprises to understand and utilize the policies under the RCEP, said Shen Xiaokai, deputy director of the Department of International Trade and Economic Affairs of the MOC.

China’s import and export volume with the other 14 RCEP member countries totaled 12.6 trillion yuan in 2023, up 5.3 percent from that in 2021 before the agreement came into effect, according to the General Administration of Customs (GAC). As of May 2024, the cumulative preferential import value under the RCEP reached 200 billion yuan, with a tax concession of 5.1 billion yuan.

In recent years, Anhui Province kept expanding its cooperation with RCEP member countries. The total output value of enterprises from other RCEP member countries investing in Anhui has approximated to 100 billion yuan, and investment of Anhui enterprises in RCEP countries accounts for more than 20 percent in their total outbound investment, said Chen Li, chief auditor of Anhui Provincial Tax Service, State Taxation Administration.

The forum also witnessed signing of 10 projects, covering fields such as automobiles, education, medicine, and new energy.

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SOURCE Xinhua Silk Road

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