2 0 1 8

The impact of the establishment of

RECP I47025 Wang
Hanyu
 Content

1 Introduction 2 Background

3 Benefits for China 4 Benefits for other

countries

5 Vision for the future

 1
Introduction
 Introduction

RCEP
Initiated in 2012 by the Association of Southeast
Head Title
Asian Nations(ASEAN),RCEP is a proposed regional
We have many
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free trade agreement among the 10 member states of
templates that has
been specifically
ASEAN and its five partners.India withdrew from the
designed.
negotiations in 2019.The full name of RCEP is called
Regional Comprehensive Economic Partnership.It is
an integration of existing free trade areas.Once
signed,it will be a modern,comprehensive,high-
quality and mutually beneficial free trade agreement.
 Introduction
30% of world population
28.7% of global GDP
25% of global trade
29.5% of global investment
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 2
Background
 Background
1997
In December , ASEAN invited
the leaders of China, Japan and
South Korea to an informal
dialogue and cooperation
meeting in Malaysia, thus
initiating the "10+3" dialogue..
2006
Japan rejected in 2006 and
instead proposed to invite
India, Australia and New
Zealand to join in a "Close
Economic Partnership in East
Asia" (the "10+6" model).
2011
In November , ASEAN accepted
the ASEAN-led China-Japanese
proposal, the RCEP, and agreed
to set up three working groups
in relation to the RCEP.
2020
After eight years of
negotiations, the Regional
Comprehensive Economic
Partnership Agreement (RCEP)
was finally signed on 15
November 2020.
 3
Benefits for China
 Benefits for China

With the implementation of the RCEP in the future, production links between
member economies in the region are expected to be further strengthened and 01 BUSINESS SECTION
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the intra-regional division of labour will become even closer.Despite the that has been specifically designed to
current prevalence of protectionism in the world economy, the RCEP will help anyone that is stepping into the
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further deepening and coordinating China's economic and trade relations with time.
neighbouring economies.

By mutually opening up market access including trade in goods and services,

the RCEP can to some extent reduce the dependence of China and Asian
countries on the US market, and in particular will play a crucial supporting role
for Chinese exports and outward investment.

The findings show that when the RCEP liberalises trade in all sectors except
agriculture, China's real GDP growth rate will increase by 0.22 percentage 02 BUSINESS SECTION
points, export growth rate will increase by 11.44% and import growth rate will We have many PowerPoint templates
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increase by 17.12%. the RCEP helps improve China's external trade help anyone that is stepping into the
environment and provides new impetus to China's economic growth. world of PowerPoint for the very first
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 4
Benefits for
other countries
 Benefits for other countries

Effectively counter the negative impact from

the CPTPP

Facilitate the formation of a unified and huge

market for the 15 countries of the RCEP and
generate economie of scale effects

The 15 RCEP member countries are highly

complementary

Re-establish a relatively stable trade order

within the Asian region
 45
Vision for the
future
 Vision for the future

• The RCEP will go ahead regardless of whether

India returns in the future, while other
economies will not be excluded from applying
to join the RCEP one after another.
• After the RCEP comes into force, a new phase
of the negotiation process may be opened to
continue the exploration of new rules for trade
such as intra-border rules.
• RCEP member economies will not change their
stance on regional economic integration and
remain steadfast in supporting and promoting
trade and investment liberalisation and
facilitation in the Asian region
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 R C E P

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