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China Issues Guiding Opinions on Implementation of RCEP

Thu, 03 Mar 2022
Categories: China Legal Trends

On 26 Jan. 2022, China’s Ministry of Commerce and five other ministries jointly issued the “Guiding Opinions on the High-Quality Implementation of Regional Comprehensive Economic Partnership (RCEP)” (hereinafter “the Opinions”, 关于高质量实施<区域全面经济伙伴关系协定>的指导意见).

The Opinions mainly encourages the Chinese enterprises to seize the opportunities under RECP to further promote their trade and investment.  

The Opinions touches upon the following aspects:

  1. Encourage Chinese enterprises to utilize the lower-tariff commitment of RCEP member countries, promoting the export of high-quality products;
  2. Encourage Chinese enterprises to make full use of the regional cumulative effects in the origins and provide guidance for them to use the facilitation measures including the declaration of origin;
  3. Accelerate the mutual recognition of the Authorized Economic Operator (AEO) and cooperation with RECP member countries;
  4. Improve the domestic intellectual property protection mechanism in accordance with the RECP IP rules and promote accession to international treaties regarding IP protection;
  5. Promote the e-commerce platforms to globalize their operations and improve the construction of global e-commerce infrastructure such as warehousing, logistics and e-payment; and,
  6. Promote the settlements in RMB for trade and investment within the RECP regions.

The RCEP entered into force on 1 Jan. 2022 for six ASEAN members including Brunei, Cambodia, Laos, Singapore, Thailand and Vietnam, as well as four non-ASEAN members including China, Japan, New Zealand and Australia.

 

 

Cover Photo by 孙 铭泽 on Unsplash

Contributors: CJO Staff Contributors Team

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