Zhejiang active in bringing more RCEP benefits to local enterprises

East China's Zhejiang province recently kicked off a series of online and offline training sessions to help local enterprises enjoy the benefits brought about by the Regional Comprehensive Economic Partnership, or RCEP, which took effect on Jan 1.

A total of 105 training sessions will be held throughout the second half of the year for more than 10,000 foreign trade enterprises in Zhejiang.

The RCEP, which was signed by 15 Asia Pacific countries, strives to promote regional and multilateral trade integration by lowering trade barriers through tariff and non-tariff measures.

Zhejiang has so far carried out 16 provincial RCEP training sessions and activities via online and offline platforms for more than 30,000 people. Cities across Zhejiang have also held 167 RCEP training sessions, benefiting more than 20,000 local enterprises.

According to an official from the Zhejiang provincial department of commerce, the province is planning to name a number of RCEP demonstration areas and share their experiences in foreign trade, services, international logistics, and cultural exchanges.

Statistics show that in the first five months of this year, Zhejiang's imports and to and from RCEP member countries were valued at 452.96 billion yuan ($67.13 billion), growing 9.9 percent year on year. RCEP member countries set up 121 new foreign-invested enterprises in Zhejiang, with contractual foreign investment totaling $2.54 billion and actual investment totaling $760 million.

Statistics also show that Hangzhou Customs issued a total of 21,728 RCEP certificates of origin in the first half of the year with an export value of 6.365 billion yuan, bringing in more than 73 million yuan for local enterprises.