'China is ready' to make RCEP trade deal tariff cutsHONG KONG: China is on track to cut tariffs when an Asia-Pacific trade deal comes into force at the start of next year, according to the Ministry of Commerce. It said China was ready to implement all 701 binding obligations, including tariff cuts and changes to rules on the origin of goods. Signed by 15 countries in November last year, the RCEP is the world's biggest regional trade deal and expected to link about 30% of the world's people and output. China already has a number of bilateral trade agreements, and this is the first time it has signed up to a regional multilateral trade pact. China is also aiming to join the Japan-led Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which proposes deeper tariff cuts than the RCEP and covers more trade areas.

Source: Bangkok Post November 07, 2021 15:53 UTC