SOURCE / ECONOMY
Technical preparation under RCEP framework advances: China customs
Published: Feb 28, 2021 03:43 PM
People attend the eighth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting via video conference in Hanoi, Vietnam on Aug. 27, 2020. Economic ministers of the 10 Association of Southeast Asian Nations (ASEAN) members and from China, Japan, South Korea, Australia, and New Zealand on Thursday underscored the significance of the RCEP in post-COVID-19 pandemic recovery. (VNA via Xinhua)

People attend the eighth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting via video conference in Hanoi, Vietnam on Aug. 27, 2020. Economic ministers of the 10 Association of Southeast Asian Nations (ASEAN) members and from China, Japan, South Korea, Australia, and New Zealand on Thursday underscored the significance of the RCEP in post-COVID-19 pandemic recovery. (VNA via Xinhua)



Preparation work for rules of origin and tariff concessions of the Regional Comprehensive Economic Partnership (RCEP) are being comprehensively promoted, China's General Administration of customs said on Sunday. 

At present, China has formulated its proposal on the revision of the origin standard and the guidelines of the rules of origin, and will actively promote all parties of the RCEP to reach a consensus as soon as possible. 

In addition, an information system for origin management of the RCEP, with the function export visa and application of agreed tax rate, is being reviewed and could be subject to adjustment.

An administrative measure for approved exporters is planned to go through consultation procedures in the near future.

The RCEP agreement was signed among its 15 participating countries in November 2020, launching the world's biggest free trade bloc.

Participating countries include the 10 member countries of the Association of Southeast Asian Nations and China, Japan, South Korea, Australia and New Zealand.
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