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As RCEP is about to take effect, what will MOFCOM and relevant agencies do to implement the agreement? What new measures will be taken to promote high-level opening up?(2021-12-23)

RCEP will come into force on January 1, 2022. Currently, all preparations for domestic implementation are in place.

The life of agreement lies in implementation. MOFCOM will promptly issue the Guiding Opinions on High-Quality Implementation of RCEP with all relevant departments involved in the agreement to help localities and enterprises better and more fully use RCEP rules and grasp the opportunities created by opening up of the market, effectively drive the steady growth of intra-regional trade and investment, promote the deep integration of industrial and supply chains among members, and promote higher-quality and deeper regional economic integration in East Asia.

Regarding high-level opening up, MOFCOM will work together with relevant departments to conscientiously follow through the arrangements by the Central Economic Work Conference, further strengthen the role of such opening up platforms as the pilot free trade zones, Hainan Free Trade Port, national economic development zones, promote opening up at the institutional level, strive to foster a market-oriented, law-based and world-class business environment and allow foreign investors to share in Chinese market opportunities and development benefits. In the meantime, we will better balance and coordinate opening up and development, revise and expand the Catalogue of Encouraged Industries for Foreign Investment and promote coordinated development of the eastern, central, western and northeastern regions in China. Thank you.