Since its entry into force in 2022, the Regional Comprehensive Economic Partnership (RCEP) has covered 30% of the world's GDP and trade volume, injecting new impetus into Asian regional trade.

Policy dividends:

Tariff reduction: China gradually reduces tariffs on 90% of goods from ASEAN countries, such as textiles and mechanical parts, resulting in a significant decrease in export costs.

Simplification of rules of origin: Cumulative rules allow member countries to merge raw materials for calculation, facilitating the integration of the industrial chain (such as cooperation between China, Japan, and South Korea on automotive parts).

Areas of benefit for enterprises:

Manufacturing industry: Vietnam and Indonesia have become hotspots for labor-intensive industry transfer, and Chinese companies can layout the "China+1" supply chain.

Agricultural products: Thai durian and Malaysian palm oil exports to China have grown rapidly.

Service trade: The openness of the financial and logistics sectors has increased, and Singaporean enterprises are accelerating their entry into the Chinese market.

Risk statement
Attention should be paid to the differences in customs enforcement among countries, as some countries (such as the Philippines) have lower clearance efficiency. It is recommended to coordinate with local agents in advance.