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Many regions in China enjoy RCEP benefits in its first month of effect, with listed companies bracing for new business opportunities

2022-02-21 08:38:50 Belt and Road Portal

Many regions in China recently reported benefits brought by RCEP in January, the first month since RCEP took effect.

Driven by favorable policies, the exports of Hsikwang Shan Twinkling Star Co., Ltd. to Japan increased by 107 percent year-on-year in January. In the same month, Truking Technology Limited also get a tariff reduction of 178,000 yuan in exporting pharmaceutical production line to Thailand after timely going through relevant formalities.

Listed companies are also exploring potential business opportunities brought by RCEP by using capital market tools to make strategic deployment.

Bafang Electric (Suzhou) Co., Ltd. (603489.SH), a leading manufacturer of e-mobility components and complete e-drive systems based in eastern Chinese city of Suzhou, just started refinancing. The RCEP agreement has reduced tariffs on two wheeled vehicles exported to major Southeast Asian countries, and as "replacing fuel with electricity" accelerates in the Southeast Asian motorcycle market, it is the right time to seize related opportunities, said a source from the company.

"RCEP agreement marks the starting point of a new round of opening-up. The manufacturing industry is picking up at the right time with significant rebound in oil products, ores, coal and containers expected," said a source from Ningbo Zhoushan Port Co., Ltd. (601018.SH).

"RCEP has connected 15 Asia-Pacific economies, covering the world's largest and fastest-growing container transport market. As mutual investment and trade among the 15 countries speed up, RCEP is expected to further improve the demand prospect of the container market within the region," a source from China Merchants Energy Shipping Co., Ltd. (601872.SH) said.