RCEP helps world economy overcome difficulties

Enabling free trade relations between China, Japan and South Korea

RCEP has enabled free trade relations between China, Japan and South Korea for the first time.

Real investment to China from South Korea and Japan increased 122.1 and 26.6 percent respectively year-on-year from January to November 2022, according to the Ministry of Commerce.

China, Japan and South Korea have carried out cooperation in machinery, automobile and optoelectronic equipment manufacturing under the RCEP framework.

This has laid the foundation for trilateral cooperation on regional value chains in high-end manufacturing including new technology and new energy.