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China's exports to RCEP partners grew 17.7% in Jan-Nov 2022

30 Dec '22

1 min read

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China’s exports to other members of the Regional Comprehensive Economic Partnership (RCEP) increased by 17.7 per cent year-on-year 6 trillion yuan during the first 11 months of current year, according to data from the country’s ministry of commerce. China’s total trade with RCEP partners grew at 7.9 per cent year-on-year to 11.8 trillion yuan.

The RCEP is a free trade agreement among the Asia-Pacific nations of Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. The agreement came into effect from January 1, 2022.

China’s trade with RCEP countries accounted for 30.7 per cent of its total foreign trade during January-November 2022, data from the ministry showed.

Releasing the data, ministry spokesperson Shu Jueting said that the ministry will continue to work with relevant departments to promote the high-quality implementation of the RCEP and other free trade agreements.

Further, the ministry will take the RCEP as a new starting point to negotiate and sign more free trade agreements.

Fibre2Fashion News Desk (RKS)

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