RCEP: Asia-Pacific countries form the world’s largest trading bloc, it covering nearly a third of the global economy. It officially signed on November 15, 2020.
Members of the RCEP makeup nearly a third of the world’s population and account for 29% of global gross domestic product.
Under RCEP, parts from any member nation would be treated equally, which might give companies in RCEP countries an incentive to look within the trade region for suppliers.
It will boost not only Chinese economy and market but also global economy and market in many ways.
1. RCEP will make a more standard rule for the countries in RECE area.
2. RCEP will optimize Supply Chain Management and resource value in the area.
3. RCEP can help foreign trade enterprises on overseas investment and brand building
4. RCEP reduce or cancel custom duty in the area.
For LED Display foreign trade, it also give the industry insiders more confidence. Because of epidemic in 2020, the global economic depression is still continuing. RCEP bring a more confident, birng and hopeful future, and show a correct direction of global economy.
