In March this year, China completed the validation of the Regional Comprehensive Economic Partnership Agreement (RCEP) and became the first country to ratify it. At present, all members of the Regional Comprehensive Economic Partnership Agreement (RCEP) have indicated that they will ratify it before the end of the year, so as to promote its entry into force on January 1, 2022. Although RCEP has gone through 28 rounds of negotiations and the time span is as long as 8 years, RCEP is still a new thing full of strangeness for most market players. China took the lead in approving the RCEP agreement, which provided technical preparation and valuable time window for the majority of market participants in our city to familiarize themselves with the new contents such as the rules of accumulation of origin and the procedures for applying for certificates of origin, and to make full use of the new rules of international trade to the maximum extent. Therefore, Ningbo should plan as early as possible, seize the opportunity window, and help build a modern coastal metropolis and a domestic and international dual-cycle hub city.
Combined with trend docking planning, we will accurately build key industrial chains.
In September 2020, the State Council announced the regional expansion plan of Zhejiang Pilot Free Trade Zone, and Ningbo undertook the tasks of building an international shipping hub, building an internationally influential oil and gas resource allocation center, an international supply chain innovation center, a global new material science and technology innovation center, and a high-quality intelligent manufacturing development demonstration zone. According to the national strategy and Ningbo’s industrial advantages, combined with the new trend of RCEP member markets, Ningbo should accurately build the key industrial chain of RCEP international cooperation. In particular, we should actively connect with the development plans of RCEP member countries such as “Smart Indonesia Plan”, “Thailand 4.0 Strategy”, Malaysia’s productivity blueprint plan and the national transformation plan in 2050, and the Philippines’ “Big Construction and Special Construction” plan, closely follow the relevant support policies, and further deepen the implementation of the capacity and investment cooperation between our city and RCEP member countries. For example, we can combine the trends and development needs of ASEAN’s industrialization and urbanization, focus on docking high-end metal new materials, green chemical new materials, high-end green home and food industry chains, and enhance the internal and external circulation capacity of industrial development. Combined with the changing trend and basic characteristics of the ASEAN consumer market, we will fully promote the integration of automobile, machinery and equipment, electronic information, biomedicine, high-end textile and garment industry chains into the ASEAN market, expand the space for industrial development, and regard the above industries as key industrial chains to build a docking ASEAN market.
Strengthen cooperation with leading enterprises and accelerate the entry and expansion of RCEP market.
At present, domestic leading enterprises in the industry are developing strongly in expanding the markets of RCEP member countries such as ASEAN countries, Australia and South Korea, and building an industrial chain for RCEP member countries. Ningbo should strengthen cooperation with domestic leading enterprises. For example, in the field of high-end metal new materials, we can strengthen cooperation with domestic leading enterprises such as China Aluminum Group, China Hongqiao Group, nanshan aluminum and Jinjiang Group; In the automotive field, we can strengthen cooperation with domestic leading enterprises such as Geely Automobile, Yutong Bus, BYD and SAIC. In the field of textiles and clothing, we can strengthen cooperation with leading enterprises such as Hodo Group Co.,Ltd., Shengtai Group, Lutai Textile, over the rainbow Textile Group and Hongru Group.
Improve service capabilities and create a more competitive business environment.
Ningbo should actively benchmark Shanghai, Shenzhen, Suzhou and other advanced cities, focus on improving the business environment of central cities, innovate industrial policies, build a “all-business” industrial chain, accelerate the formation of a business environment ruled by law, international and convenient, a fair, open, unified and efficient market environment, a clean and efficient government environment, and continue to promote the reform and innovation of the business environment. We should also promote the development of cross-border RMB business from the perspectives of “improving efficiency”, “expanding channels” and “increasing convenience”. Encourage bank financial innovation, and provide capital insurance and custody investment financial products for enterprises to “go global” in combination with the national cross-border RMB policy; Encourage banks to provide cross-border financing for enterprises in the region and provide diversified choices for cross-border financial business; Encourage banks to further simplify the procedures for project revenue and expenditure, and facilitate RCEP member enterprises investing and operating in Ningbo to use RMB for pricing and settlement.
Cultivate “invisible champions” and achieve market breakthroughs in segmentation areas.
Facing the competition from Japanese and Korean high-tech enterprises after the entry into force of RCEP, our city should continue to cultivate invisible champions who focus on segmentation, guide more enterprises to take the road of “specialization and innovation”, expand market share, study, cultivate and introduce new technologies, improve product quality and technological innovation, accelerate the pace of digital and intelligent transformation, vigorously develop segmented products that meet the market needs of RCEP member countries, strengthen product advantages, and improve the manufacturing industry chain, so as to extend segmented products and expand high-end products. We should also actively carry out foreign scientific and technological exchanges, deepen the fields and scope of scientific and technological cooperation with RCEP member countries, establish and improve the scientific and technological innovation cooperation mechanism for RCEP member countries, and promote various forms of scientific and technological innovation and R&D cooperation. At the same time, we should actively promote the joint establishment of scientific research institutions, technology transformation centers, industrial incubation centers, etc. with advanced countries in science and technology such as Japan and South Korea, and make every effort to build an international cooperation system for scientific and technological innovation facing the world.
Strengthen policy guidance and improve the international competitiveness of foreign trade enterprises
Ningbo’s foreign trade enterprises need to adapt to the new situation of more open environment and full competition in a short time, benchmark the international advanced management level, sort out and improve the quality standards and rules of China’s manufacturing industry, and strive to move towards the middle and high end and improve product quality, so as to further enhance the competitiveness in the international market. Government departments should increase the training of RCEP related knowledge, relevant policies and regulations, and help enterprises, especially export-oriented small and micro enterprises, to be familiar with the contents of RCEP rules and the tariff concessions of member countries, master the requirements of applying for certificates of origin and certification materials, and improve their ability to participate in international cooperation and competition.
Build a publicity and cooperation platform to improve influence and popularity.
Make full use of China-ASEAN Expo, Ningbo-Indonesia Economic and Trade Forum, Ningbo-Singapore Creative Forum and other important exchange and cooperation platforms, invite more government officials, business representatives and media reporters from RCEP member countries to participate, and expand the influence of Ningbo cities and enterprises. At the same time, further develop humanities exchanges in tourism, education, culture, art, science and technology, health, sports, media, think tanks, exhibitions and other aspects. We should focus on humanities exchanges with relevant cities in RCEP member countries, and gradually establish a one-country, one-policy humanities exchange and cooperation mechanism. On the other hand, actively use news media and propaganda organizations to develop an outreach system based on social media, tell the story of Ningbo well, and enhance the popularity of Ningbo in the RCEP circle of friends.
Establish RCEP pilot area and develop in conjunction with Ningbo area of Zhejiang Free Trade Zone.
Ningbo should learn from the advanced experience in the construction of RCEP pilot zones in Qingdao and other regions in China and foreign pilot zones, combine the characteristics of Ningbo’s industrial structure, build the RCEP pilot zone in cooperation with Ningbo area of Zhejiang Free Trade Zone, and then promote all-round exchanges and cooperation with RCEP member countries, especially focus on benchmarking the highest rules of RCEP member countries, promoting the international circulation of production factors, and strive to become the international resource allocation hub of China and RCEP circulation.
Create a small economic circle between Ningbo, Japan and South Korea, and build a dual-cycle international resource allocation hub.
In 2019, the total trade volume between Ningbo and other RCEP member countries reached 250.91 billion yuan, of which the trade volume of Japan and South Korea accounted for 6% and 5% of the total trade volume of our city respectively, making Ningbo the second and fourth largest trading partners. After the entry into force of RCEP, China and Japan will reach a bilateral tariff concession arrangement for the first time, achieving a historic breakthrough, which is of great benefit to the formation of a small circle in the economic circle of China, Japan and South Korea. Ningbo should make good use of the international economic cooperation clauses in RCEP, strengthen the cooperation with Japan and South Korea in special economic regions, especially in the fields of medical beauty, biomedicine and financial leasing, and strive to build an international resource allocation hub with two-way circulation at home and abroad.
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(Contributed by Ningbo Municipal Commission of Commerce)