Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Latest

Free trade coasts on multilateral ties

By ZHONG NAN | China Daily | Updated: 2020-12-14 07:26
Share
Share - WeChat
Chinese-made export-bound vehicles wait to be shipped at the Lianyungang Port in Jiangsu province on Dec 7. China's foreign trade expanded 7.8 percent year-on-year in November, with exports jumping 14.9 percent and imports declining 0.8 percent on a yearly basis. WANG CHUN/FOR CHINA DAILY

ASEAN push, RCEP pact, BRI's success lead China into championing FTAAP

Ever since China and 14 other countries signed the Regional Comprehensive Economic Partnership agreement on Nov 15 in Hanoi, Vietnam, Xiao Maochang, chairman of Shandong province-based textile products maker Sunvim Group, could not stop wondering which Southeast Asian markets are yet to be served by the company.

All the 10 member countries of the Association of Southeast Asian Nations, or ASEAN, are RCEP signatories. So are Japan, South Korea, Australia and New Zealand. Experts have called the RCEP "a victory of multilateralism and free trade" as the 15 nations collectively account for nearly a third of the world's GDP.

For Sunvim, which employs more than 15,000 employees, the going got tough in the first quarter of this year due to the impact of COVID-19. Things turned around from April onward as many overseas textile firms either suspended production or shut their factories to avoid health risks.

Since the situation improved in China and production resumed at factories, Sunvim, which is the official towel supplier for the delayed Tokyo 2020 Olympics, alone was able to export 53 percent of China's total towel products to Japan in the first three quarters of this year.

It paid 7.4 percent tariff (tax on imported goods) to Japanese customs. But Sunvim's competitors in Vietnam enjoyed zero tariff in Japan, thanks to their bilateral free trade agreement.

This meant Sunvim had to slash prices to match its competitors', which squeezed its profit, said Xiao.

This disadvantage will become history once RCEP results in zero tariffs in the coming decade. What's more, last month, China and Japan reached a separate bilateral tariff cut arrangement, marking a historic breakthrough in efforts to promote a high level of trade liberalization in the region.

Once the gradual implementation of the RCEP and follow-up policies start to generate expected dividends, Chinese textile and garment manufacturers will likely see robust growth over the next decade, said Chen Dapeng, vice-president of Beijing-based China National Textile and Apparel Council.

Backed by China's new round of reform and opening-up, the fresh momentum generated by the RCEP will not only reinforce industrial and supply chains, boost cross-border investment, enhance the ability of all parties to fight the COVID-19 pandemic and promote the economic recovery but also put China's foreign trade growth on a firmer footing in 2021, said Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges.

He said China's closer business ties with the ASEAN and the signing of the RCEP will also provide a clear path and a strong impetus for the development of the Free Trade Area of the Asia-Pacific, or FTAAP.

China and its partners' efforts to support free trade and the multilateral trading system will send a strong signal against unilateralism and protectionism, and have a positive effect on the global economy, said Ke Liangdong, vice-chairman of the Beijing-headquartered China Council for the Promotion of International Trade.

He said the country's foreign trade is expected to steadily grow next year on the back of several factors: a notable improvement in the industrial, supply and service chains; the booming China-Europe freight train services; the reform of State-owned enterprises; and major trade events such as the China International Import Expo and the Canton Fair.

1 2 3 Next   >>|
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: loosiesaki| 亚洲伊人久久大香线蕉结合| 靠逼软件app| 国产香蕉尹人在线观看视频| 中国体育生gary飞机| 有坂深雪初尝黑人在线观看| 人人爽人人爽人人片a免费| 草莓视频在线免费播放草莓视频在线免费播放 | 老子影院午夜精品无码| 国产精品一二三区| a级在线观看免费| 把胡萝卜立着自己坐上去| 亚洲av人无码综合在线观看| 特级无码毛片免费视频尤物| 四虎国产精品永久在线播放| 久草网视频在线| 国产视频手机在线观看| 一二三四日本高清社区5| 日本丰满岳乱妇在线观看| 亚洲一区二区免费视频| 波霸在线精品视频免费观看| 午夜国产在线观看| 青青国产成人久久激情911| 国产精品福利一区二区久久| a级亚洲片精品久久久久久久| 成品网站nike源码1688免费| 久久精品亚洲一区二区三区浴池 | 四虎永久在线精品视频免费观看| 欧美另类黑人巨大videos| 在线播放国产一区二区三区| 一本大道香蕉视频在线观看| 无码日韩精品一区二区三区免费 | 国产在线19禁免费观看| 无遮挡1000部拍拍拍免费凤凰| 夜夜高潮夜夜爽夜夜爱爱一区| 一级黄色免费网站| 日产乱码卡一卡2卡三卡四多p| 久草网在线视频| 欧美喷潮久久久XXXXx| 亚洲男人第一av网站| 知乎的小说哪里可以免费|