Not long ago, 10 ASEAN countries and 15 countries including China, Japan, South Korea, Australia and New Zealand formally signed the regional comprehensive economic partnership agreement (RCEP). Not long ago, 10 ASEAN countries and 15 countries including China, Japan, South Korea, Australia and New Zealand formally signed the regional comprehensive economic partnership agreement (RCEP). Peng Bo, an associate researcher at the Institute of international trade and economic cooperation of the Ministry of Commerce, said that the signing of RCEP is a landmark event for China in the field of foreign trade and economic cooperation, second only to its accession to the WTO. The signing of RCEP means that about one-third of the world's economy will form an integrated market, the curtain of the tripartite pattern of Global trade will open, and the ten ASEAN countries will join hands with China, Japan, South Korea, Australia and New Zealand to promote the reduction of tariff and non-tariff barriers in the region and sign a free trade agreement for the establishment of a unified market. The reporter learned that RCEP covers 20 chapters, including market access rules for trade in goods, trade in services and investment, as well as trade facilitation, intellectual property rights, e-commerce, competition policy and government procurement. "This marks the official launch of the free trade zone with the largest population, the largest economic and trade scale and the most development potential in the world," the Ministry of Commerce said

China is a big auto parts import and export country. What risks and opportunities will the regional comprehensive economic partnership agreement bring to China's auto parts industry?

■ parts industry will benefit from "tariff reduction"

The regional comprehensive economic partnership agreement has further liberalized the trade in goods, and the tariff reduction among member countries is mainly based on the commitment to reduce the tariff to zero immediately and within ten years. It is expected that the follow-up free trade zone is expected to achieve significant phased construction results quickly.