Consumer Staples Dec 15, 2021 09:58 PM (GMT+8) · EqualOcean
Cailian, December 15 (Xinhua) -- from January 1 next year, Regional Comprehensive Economic Partnership (RCEP) will officially come into force. When China conducts trade with other RCEP members, the applicable tariff rate will be further reduced. After the implementation of tariff concessions under the regional comprehensive economic partnership agreement, China will reach tariff concessions with Japan for the first time. In the first year of the implementation of the tariff reduction, 24.9% of the tax items of China's imports from Japan will achieve zero tariff; and Japan's imports from China will be reduced Among the products, the tariff of 55.5% of the tax items was reduced to zero. In addition, China and six ASEAN countries, including Australia, New Zealand, Brunei, Cambodia, Laos, Singapore and Thailand, have reached 64.7%, 65% and 66.8% respectively under the framework of RCEP, which will benefit consumers in member countries and bring market opportunities to enterprises.

This text is a result of machine translation.