Enterprises in the Guangdong Hong Kong Macao Greater Bay Area actively participate in the opening and cooperation of the Asia Pacific supply chain
2023-11-17
Importing raw materials from China, investing in a factory in the Philippines to complete product assembly, and then exporting to the European market, Shenzhen Guanlai Electronics Co., Ltd.'s "China Supply Chain+Overseas Assembly" model benefits the enterprise. The raw materials can enjoy corresponding tariff reductions with the RCEP certificate issued by Shenzhen Customs, while the products also enjoy the local origin qualification in the Philippines, and the tariffs for exporting to Europe are lower than those in China. "Wang Mingyong, Director of Operations at Guanlai Electronics, said that with its high-tech content and cost advantages, the company's earphones, audio and other products continue to sell well, not only driving the exports of upstream supply chain enterprises in China, It has also driven employment and income growth for local residents in the Philippines. Guanlai Electronics is just a microcosm of Chinese enterprises actively participating in the opening and cooperation of the Asia Pacific supply chain. In July of this year, the 2023 Greater Bay Area ASEAN Economic Cooperation (Qianhai) Forum was held in Shenzhen. At the forum, the Greater Bay Area ASEAN Economic Cooperation Joint Initiative was launched, and the Greater Bay Area ASEAN International Chamber of Commerce Alliance and China ASEAN Think Tank Partnership were established. Seven sets of economic cooperation projects were collectively signed, involving a total amount of over 12 billion yuan. We have reached strategic cooperation agreements with the Singapore Chamber of Commerce and the Taihua Import and Export Chamber of Commerce. The digital economic and trade system in the Greater Bay Area will establish a selection center in the local area to help them improve their e-commerce network marketing capabilities, "said Zou Shuji, Executive Chairman of the Greater Bay Area Import and Export Chamber of Commerce. On September 21st, the China (Shenzhen, Hong Kong) ASEAN (Kuala Lumpur) Emerging Industries Matchmaking Conference was held in Kuala Lumpur. Shenzhen, Hong Kong, and representatives of enterprises and institutions in the ASEAN region have signed 22 cooperation agreements with a signed amount of over 10 billion yuan, involving new energy vehicles, electrochemical energy storage materials, smart cities, digital economy, medical devices, and other fields. The Guangdong Hong Kong Macao Greater Bay Area has extensive and multi-dimensional industrial and supply chain cooperation with economies of all sizes around the world. The Greater Bay Area has a good foundation for cooperation with ASEAN countries in terms of geographical location, historical heritage, industrial distribution, and other aspects. "said Shi Zhongjun, Secretary General of the China ASEAN Center. In recent years, China has continued to consolidate its advantages and stabilize the supply chain in the Asia Pacific region by unblocking the domestic and international circulation, promoting the construction of mechanisms such as the "the Belt and Road", the Regional Comprehensive Economic Partnership Agreement (RCEP), and the China ASEAN Free Trade Area. The Guangdong Hong Kong Macao Greater Bay Area is an important participating region. Zhang Jinsong, Director of the Department of Commerce of Guangdong Province, said that Guangdong's import and export to countries and regions jointly building the "the Belt and Road" had an average annual growth of 8.4% in five years, and its import and export to RCEP member countries had an average annual growth of 5.3% in five years. China Europe Express set up eight operating stations in the province and opened to more than 40 countries and regions. Seven provincial overseas economic and trade cooperation zones had realized an output value of 3.87 billion dollars in 2022, driving exports of goods of 850 million dollars. As an important agreement for economic integration in the Asia Pacific region, RCEP has fully entered into force for 15 signatory countries including China, Japan, South Korea, New Zealand, and the Philippines. RCEP not only made a commitment to tariff reduction levels, but also adopted rules of origin accumulation, which will significantly enhance the degree of trade liberalization in the Asia Pacific region and further consolidate the supply chain pattern in the Asia Pacific region. Guangzhou Lvanyi Clothing Co., Ltd. is mainly from Japan
Edit：Hu Sen Ming Responsible editor：Li Xi
Source：GD TODAY
Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. For copyright issues and website cooperation, please contact through outlook new era email：lwxsd@liaowanghn.com
Greater Bay Area
Recommended Reading Change it 
Home
