CEC Join to Launch the Chinese Business Initiatives in Boosting Industrial and Commercial Cooperation in RCEP Region

Invited by China-ASEAN Business Council, CEC launched Chinese Business Initiative on Boosting Regional Cooperation of Industrial and Commercial Circles in RCEP Regions (hereinafter “Initiative”) together with related national business associations on February 5th, a move to express the warm desire of enhancing friendly cooperation with RCEP region.

The launch of the Initiative reflects the proactive position of China electricity sector that is willing to strengthen the cooperation with all of the countries in RCEP region. By making the best of the investment and trade facilitation terms provided by RCEP, Chinese power enterprises are looking forward to deepening the understanding with all parties, and strengthening the cooperation within power sector. Moreover, it is believed that enterprises will play vital role not only in economic and trade cooperation, but also in providing mutual support in fighting against the COVID-19 pandemic, as well as creating favorable conditions for open markets.

The main agreed framework of the Initiative include:

- fully recognition of the significance of RCEP development;

- jointly seizing the opportunity in opening up market to strengthen industrial cooperation and to expand trade and investment, as industry is the main driving factor of economic growth;

- supporting each other to fight against the pandemic, and creating favorable conditions for open markets with collective efforts;

- enabling enterprises to play their vital role in economic and trade cooperation.

Several industry associations from various sectors including power, machinery, petrochemical, electronics and transportation jointly launched the Initiative.