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Textile and Apparel Industry Weekly: China applies to join CPTPP to fully participate in free trade

Textile and Apparel Industry Weekly: China applies to join CPTPP to fully participate in free trade

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  • Time of issue:2021-09-22 18:04
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(Summary description)China applied to join the CPTPP. According to the Ministry of Commerce of China, on September 16, 2021, Minister of Commerce Wang Wentao submitted a written letter to O'Connor, Minister of Trade and Export Growth of New Zealand, the depositary of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The two ministers also held a teleconference to communicate on the follow-up work concerning China's official application for accession. In addition to the sponsoring country, China is the second country to apply to join the CPTPP. In January 2021, the United Kingdom applied to the United Kingdom, the speaker of the agreement.

Textile and Apparel Industry Weekly: China applies to join CPTPP to fully participate in free trade

(Summary description)China applied to join the CPTPP. According to the Ministry of Commerce of China, on September 16, 2021, Minister of Commerce Wang Wentao submitted a written letter to O'Connor, Minister of Trade and Export Growth of New Zealand, the depositary of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The two ministers also held a teleconference to communicate on the follow-up work concerning China's official application for accession. In addition to the sponsoring country, China is the second country to apply to join the CPTPP. In January 2021, the United Kingdom applied to the United Kingdom, the speaker of the agreement.

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2021-09-22 18:04
  • Views:
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  China applied to join the CPTPP. According to the Ministry of Commerce of China, on September 16, 2021, Minister of Commerce Wang Wentao submitted a written letter to O'Connor, Minister of Trade and Export Growth of New Zealand, the depositary of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The two ministers also held a teleconference to communicate on the follow-up work concerning China's official application for accession. In addition to the sponsoring country, China is the second country to apply to join the CPTPP. In January 2021, the United Kingdom applied to the United Kingdom, the speaker of the agreement.

  Covering four continents and 11 countries, accounting for % of global GDP. The predecessor of CPTPP is TPP (Trans-Pacific Partnership Agreement). In November 2009, the United States proposed to expand the Trans-Pacific Partnership plan, inviting Australia and Peru to join, and leading the TPP negotiations in an all-round way. In 2010, Vietnam and Malaysia became negotiating members. In 2012, Canada Join the chat, Japan and South Korea joined the negotiations in 2013, but by 2017 the US announced its withdrawal from the TPP agreement. In November 2018, Japan, Canada, Australia, Chile, New Zealand, Singapore, Brunei, Malaysia, Vietnam, Mexico and Peru 11 countries, covering four continents, according to the daily economic news report, CPTPP covered 498 million people, GDP The sum accounts for 13% of the global economy.

  "RCEP" + "CPTPP" demonstrates China's determination to participate in free trade. On November 15, 2020, including 10 ASEAN countries (Vietnam, Indonesia, Malaysia, the Philippines, Thailand, Singapore, Brunei, Cambodia, Laos, Myanmar) and China, Japan, South Korea, Australia, New Zealand formally signed the Regional Comprehensive Economic Partnership The relationship agreement (RCEP), the total population, economic volume and total trade volume of the 15 member countries account for about 30% of the global total, forming a free trade area with the largest participating population, the most diverse member structure and the greatest development potential in the world. . We believe that by combining RCEP and CPTPP, my country is expected to achieve free trade with more countries. On the one hand, it is conducive to expanding and expanding overseas consumer markets, and on the other hand, it is conducive to forming industrial synergy with countries that have agreed. For China, this will further build a A new development pattern in which the domestic cycle is the main body and the domestic and international dual cycles promote each other.

  Over a quarter of textile exports will benefit. In 2020, my country's total exports of knitted or crocheted clothing and clothing accessories totaled 62.2 billion US dollars, and exports to Japan, an RCEP agreement country, accounted for 11%. Australia, New Zealand, Vietnam, Malaysia and Chile together accounted for 25%, more than the proportion of exports to the United States (23%). In 2020, my country's textile and apparel exports will account for 13% of the country's overall exports, which is one of the important export components. We believe that the widespread achievement of free trade agreements will help enhance the competitiveness of China's apparel export industry. Contributed to overall Chinese export growth.

  Suggested attention: ① There are more production capacity layouts in China, and high-quality manufacturers that can produce continuously and stably. [Xinao Co., Ltd.]: The company is a leader in worsted wool yarns and is committed to establishing a stable and high-quality customer group. With the advantages of category broadband development, low-carbon sustainable development, marketing channels, technology research and development and design and development, we believe that the company, as a leader in subdivided industries, has the ability to undertake overseas transfer orders and seize the opportunity to increase its share. 【Taihua New Materials】: The company focuses on the R&D and production of nylon 6, nylon 66 and nylon environmentally friendly recycled products and other chemical fiber products. It can customize and develop a series of high-end functionalities such as environmental protection and health, outdoor sports, and special protection for global customers. Fabrics, the company is driven by "innovative products to increase revenue" and "conventional products to reduce costs", and is a leading enterprise in the field of domestic functional fabrics. ② We are optimistic about manufacturing companies with strong production management capabilities. [Huali Group]: The company has more than half a century of footwear manufacturing experience, long-term and core binding with international leading customers, benefiting from the centralized and core supply chain of brand companies. the trend of. [Shenzhou International] The proportion of exports in 2020 will be 68%. It is bound to well-known international brands such as Nike and Adidas, and occupies a leading position in the apparel manufacturing industry. [Jiansheng Group] is a leader in cotton socks and seamless manufacturing, gradually increasing with production capacity. Smooth, we expect the company's revenue growth will gradually improve, and the flexibility of net profit improvement will increase.

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