Anhui issues guideline on aligning with RCEP rules

Updated:Apr 13,2022 14:54 PM

East China’s Anhui province has issued a guideline to align with the new economic and trade rules introduced by the Regional Comprehensive Economic Partnership agreement (RCEP) and promote high-level opening -up.

By 2024, the trade in goods, outbound investment and actual utilization of foreign capital between the province and other RCEP countries will account for 30 percent, 20 percent and 10 percent of the provincial total, respectively, according to the guideline.

The guideline noted that the province should expand the export of competitive products and increase proportions of mechanical and electrical exports and high-tech exports.

It should make a list comparing commodity tax rates of RCEP countries and deepen understanding of tariff concessions of major RCEP countries.

Agricultural enterprises are encouraged to register trademarks and obtain certifications in other RCEP countries, the guideline said.

Efforts should also be made to attract investment from RCEP countries such as Japan, the Republic of Korea and Singapore in the fields of integrated circuits, new energy vehicles, photovoltaics, home appliances and semiconductor materials.

The province should expand the fields for outbound investment and support companies engaged in automobiles, building materials and household appliances to go global, the guideline said.