Chinese Coastal City Benefits From RCEP

Xiamen, a coastal city in eastern China’s Fujian Province, saw total exports to Regional Economic Partnership (RCEP) member countries amount to 27.7 billion yuan (about 4.2 billion U.S. dollars) in the first quarter of 2022, up 15.3 percent year on year, according to Xiamen Customs.

Statistics show that the total trade volume of Xiamen with RCEP reached 68.3 billion yuan, taking up 33.3 percent of the city’s total foreign trade.

During the January-March period this year, the trade volume of Xiamen’s private enterprises with other RCEP members reached 22.4 billion yuan, up 13.2 percent while the state-owned enterprises reached 28 billion yuan, up 6.9 percent.

Major exported goods during the period included mechanical and electrical products and labor-intensive goods. The former reached 12.2 billion yuan, up 12.2 percent, while the latter reached 6.2 billion yuan, up 10.4 percent.

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