China’s RCEP Trade Gets Off to a Good Start
China’s trade with other countries in the Regional Comprehensive Economic Partnership (RCEP) rose 9.5% year-on-year in the first quarter after the free trade agreement came into effect for most members on Jan. 1, customs data showed.
Trade between China and the 14 other RCEP countries expanded to $449.4 billion, the most for the same period in at least four years, according to Caixin calculations based on data released by the General Administration of Customs. The growth rate slowed from 31.5% a year earlier when trade was boosted by the recovery from a Covid-related slump in 2020. Imports and exports are again being affected this year as lockdowns and travel restrictions to curb a resurgence of the disease hit logistics and port activity.
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