RCEP｜Chen Maobo: Striving to be the first batch to join the economy means that the operation of one country, two systems is not smooth

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Written by: Kong Fanxu

2020-11-22 11:57

Last update date: 2020-11-22 12:02

China has signed the Regional Comprehensive Economic Partnership Agreement (RCEP) with 14 other countries including the ten ASEAN countries, Japan, South Korea, Australia and New Zealand.

The Financial Secretary Chen Maobo published a blog today (22), stating that the total bilateral trade in goods between Hong Kong and the 15 member states of RCEP last year amounted to US$765.5 billion, accounting for 71% of Hong Kong’s total trade in goods. Express the willingness to join the agreement to the member economies, and strive to become the first group of economies to join after the agreement takes effect.

Financial Secretary Chen Maobo said that he would strive to become the first batch of economies to join after RCEP takes effect.

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Chen Maobo said that RCEP is the world’s largest trade agreement, covering about one-third of the world’s total population and GDP. Members will implement tariff reductions, open market access, remove trade barriers, and simplify customs clearance procedures, which will further reduce membership. The cost of trade between regions.

This agreement is conducive to promoting the country’s import and export and foreign investment, expanding the import of advanced technology, equipment and parts, and at the same time helping the further development of the regional industrial chain.

Chen continued that although Hong Kong exempts most imported goods from tariffs and has a very small proportion of manufacturing, joining the RCEP agreement will benefit services trade and investment.

Therefore, Hong Kong has already expressed its willingness to join the agreement to the RCEP member economies as early as 2018. Hong Kong will strive to become the first group of economies to join the agreement in accordance with the relevant provisions of the agreement.

In recent years, "one country, two systems" has been controversial.

(Data Picture/Photo by Zeng Ziyang)

"Uncoordinated operation affects stability and development, and even national security"

In recent years, Hong Kong has been controversial over the operation of "One Country, Two Systems".

Chen pointed out that "One Country, Two Systems" and the "Basic Law" have allowed Hong Kong to prosper and develop for more than 20 years. The society's understanding and manipulation of "One Country, Two Systems", the specific operation of the system, and the changes in internal and external environments have all led to some links in the operation of the system. Irregularities and inconsistencies affect the stability and development of Hong Kong, and even the security of the country.

Therefore, Chen believes that Hong Kong people must always firmly grasp the original intention of "One Country, Two Systems" and the foundation of the Basic Law, attach importance to the constitutional order, responsibilities and norms that Hong Kong should have, and continue to improve the system and relevant legal enforcement mechanisms. Only the implementation of "One Country, Two Systems" and the "Basic Law" can be implemented consistently, and Hong Kong can achieve stability and long-term development.

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