RCEP welcomes rising deals in first week as firms delighted with cost benefits

[superadmin]

A wave of initial deals swept across China's exporting provinces in the first week of implementation of the Regional Comprehensive Economic Partnership (RCEP) pact, as companies across China are thrilled at the tangible RCEP benefits.

Some believe the boost delivered by the recently implemented mega trade deal is similar to that of WTO accession, with some even announcing plans to shift their market focus to fully tap into the opportunity.

Statistical projections by a top Chinese think tank that the deal is expected to lift regional exports by 18.3 percent by 2035 match the experience of businesses, with some exporters and importers providing a detailed account of how the deal has helped them save money, and perhaps more importantly, time. 

In some circles, "certificate of origin" has become a buzzword for trading company executives, trade officials and industry players across China, from coastal ports to inland provinces. Some were even planning a shift in their business focus to fully target benefits brought about by the RCEP.

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