First Chinese RCEP train departs for Hanoi

This marks the first international freight train leaving China and heading to member countries of the Regional Comprehensive Economic Partnership (RCEP) after the agreement officially came into force.

The train is in charge of transporting 25 containers of goods related to normal trade and cross-border e-commerce, such as electronic components, necessities, and chemical products which have a total weight of more than 800 tonnes and worth more than US$10 million. According to the schedule, the train is expected to arrive in Hanoi after a 28-hour journey.

Upon addressing the departure ceremony, the director of the Guangxi Department of Commerce affirmed that, as part of the gateway to China opening and co-operating with ASEAN member states, the enforcement of the RCEP has brought important new opportunities for the stronger development of Guangxi. As a result, co-operation between Guangxi and RCEP member countries will be further consolidated, with the scale of trade and co-operation being continuously enhanced moving forward, he added.

The RCEP consists of 10 ASEAN member states, including China, Japan, the Republic of Korea, Australia, and New Zealand, accounting for roughly 30% of the population, equivalent to 2.7 billion people, and a GDP equivalent to US$26.2 trillion globally.

The agreement came into effect on January 1 and is expected to offer a new lease of life to promote regional economic recovery following the COVID-19 pandemic, whilst simultaneously being a catalyst that contributes to boosting global economic growth.