- 发布时间：2021-12-21 09:02
- 发布时间：2021-12-21 09:02
At present, China and Japan are two countries trade big country, and are important trade partners, signed by the regional comprehensive economic partnership agreement (RCEP), for the first time the two sides established a free trade partnership, realize the historic breakthrough of bilateral tariff concession, will greatly promote the economic and trade cooperation between the two countries, reached for the future China, Japan and South Korea fta laid a foundation.
With the significant increase in the coverage of zero-tariff products between the two countries and the implementation of the accumulative rules of origin, bilateral trade will be further expanded and more opportunities will be provided for the development of china-japan economic and trade relations.
From the perspective of bilateral trade structure, China's main export products to Japan are electrical and electrical products, machinery products, textiles and clothing, toys, bags and plastic products.
Textile and garment industry and light industry benefit more
As the first free trade agreement between China and Japan, RCEP will significantly enhance sino-Japanese economic and trade cooperation since China has already signed free trade agreements with all the other 13 RCEP members except Japan. According to the RCEP agreement, Japan has pledged to increase the zero-tariff coverage rate of Chinese imports to 57% of all tariff items immediately after the RCEP takes effect. Within 11 years after the agreement came into force, the zero-tariff coverage rate was increased to 75%. Within 16 years after the agreement came into force, the zero-tariff coverage rate was increased to 75 percent. The tariff-free coverage of the agreement within 21 years of its entry into force eventually reached 88%. Accordingly, China's zero-tariff rate on Japanese products will eventually reach 86%.
According to Japan's tariff reduction commitment to Chinese goods under the RCEP framework, most of the two categories of electric motors and mechanical products, which are the largest exports from China to Japan, are already zero-tariff, and there is no obvious room for tariff reduction under RCEP. As the third major category of goods exported to Japan, textile and garment products will gradually reduce tariffs to zero for most products under the RCEP framework. Light industrial products such as toys, bags and plastic products, which are key items for export to Japan, also enjoy greater room for tariff reduction.
Currently, Japan is the third largest export market for China's textile and garment industry (after the United States and the European Union). According to the statistics of China Customs, from January to September 2021, the value of Textile raw materials and textile products exported from China to Japan was 14.15 billion US dollars, accounting for about 6.5% of the total export of such goods. China's textile and apparel industry exports to Japan's most original products generally faced with 4.7% ~ 10.9% tariff, RCEP comes into force, in addition to a small number of items (such as face masks, etc.) the benchmark rates unchanged, excluded from the tariff concession promise, on Japan's main export of cotton, silk, synthetic fiber products such as clothing products tariff will be proportionate to reduce year by year, And zero tariffs in year 16.
China's export of toys, bags and other light industrial products to Japan will also enjoy major tariff reduction. Currently, Japan is China's fourth largest toy export market (after the US, EU and UK). According to the statistics of China Customs, from January to September of 2021, China exported toys to Japan worth 3.57 billion US dollars, accounting for about 4.8% of the total export of such goods. After RCEP takes effect, the tariff rate on Toy goods exported from China to Japan will be reduced 11 or 16 times each year to zero from the current general rate of 3.9%.
At present, Japan is China's third largest export market for bags and leather products (after the United States and the European Union). According to the statistics of China Customs, from January to September 2021, China exported suitcases and leather products to Japan worth us $1.84 billion, accounting for about 8.5% of the total export of such goods. After the RCEP takes effect, China will also reduce tariffs on many bags and suitcases exported to Japan from 8% to zero for 21 times each year.
Japan is currently China's fourth largest plastic export market (after the United States, the European Union and Vietnam). According to the statistics of China Customs, from January to September of 2021, the amount of plastic products exported from China to Japan was 4.72 billion US dollars, accounting for about 5.0% of the total export of such goods. After the RCEP takes effect, the tax rate on major plastic products exported from China to Japan will be reduced from 3.9% to zero tariff for 11 times each year.
On the whole, Japan's tariff concessions for China's textile and garment products and light industrial products generally have a long term and limited short-term effect, but in the long run, it will have positive significance for the stable development of bilateral trade cooperation in related products. Therefore, China's textile and garment and light industrial products are expected to gradually improve their price competitiveness in the Japanese market in the next few years, reduce the export cost of enterprises, thus expanding exports to Japan and benefiting Chinese enterprises in related industries.
The cumulative rule of origin is conducive to expanding exports to Japan
After the RCEP comes into force, the implementation of the cumulative rules of origin will effectively lower the threshold for products to obtain the qualification of origin under the AGREEMENT, promote the free flow of production factors in the region, and have a significantly positive impact on trade between China and Japan in particular. After the RCEP takes effect, products that had to take measures such as local production due to the rules of origin of ASEAN-Japan free trade agreements will be able to directly enjoy Japan's tariff-free treatment.
Take textile and garment as an example. In the past, many Chinese knitting enterprises invested in knitting garment factories in ASEAN countries, but at the same time they had to invest in knitting fabrics to enjoy Japan's tariff-free treatment. After RCEP takes effect, fabrics imported from China, processed into garments in ASEAN countries and then exported to Japan will also enjoy duty-free treatment. The cumulative rules of origin encourage the use of intermediate products in the region, which is conducive to reducing production costs of relevant enterprises through rules of origin, thus driving relevant Chinese enterprises to expand exports to Japan.
The RCEP's entry into force will bring rare opportunities and more development opportunities to China-Japan economic and trade cooperation. As RCEP members, especially China and Japan, enjoy favorable economic recovery, relevant Chinese enterprises should make full use of RCEP's preferential tariff measures and trade facilitation measures to optimize and adjust the layout of the industrial chain and speed up their own development.