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RCEP Reached! Boost Chinese Battery Companies Export Development

Date:2020-12-17 11:12:02

RCEP Reached! Boost Chinese Battery Companies Export Development
On November 15, the Agreement of RCEP was formally signed. There is no doubt that it will bring new development opportunities for the Chinese battery industry.
Unprecedented demand for China's power battery market under ultra-low tariff
RCEP will promote domestic enterprises to deploy battery raw materials and battery production capacity in the ASEAN market. Meanwhile, RCEP will also benefit the export of Chinese electric two-wheelers in the region with substantial tax incentives.
Moreover, RCEP will also benefit for battery companies entering the Japanese automotive supply chain in all directions of 12V lithium batteries, 48V lithium batteries, PHEV and BEV batteries. The prospects for trade will be promising.
Energy storage systems and batteries to meet new development opportunities
As the world’s largest exporter of energy storage, it is greatly affected by tariffs. After  RCEP agreement, the goods covered by the tariff reduction have reached more than 90%. Some analysts believe that 95% or more of the tax items will not be excluded from the 15 countries in the "zero tariff" RCEP in the future, most of them are the main import and export countries of the products of China. Japan, Australia Vietnam, Malaysia, South Korea, Thailand, etc have strong demand for energy storage.
RCEP to bring breakthrough opportunities for China post-pandemic
Throughout the world, the epidemic prevention and control situation of RCEP member countries is relatively optimistic. Singapore, Japan and other countries have gradually relaxed restrictions on entry and exit of Chinese citizens, reflecting the urgency of the governments of these countries to boost the economy. The RCEP agreement will better create a breakthrough opportunity for China's battery industry exports.
RCEP perfectly fits the globalization strategy of World Battery Expo (WBE)
Since its establishment in 2016, WBE has always adhered to the core strategy of "bringing in high-quality overseas buyers and helping outstanding Chinese companies to go global". The first five editions of WBE received a total of over 100,000 professional visitors, including more than 17,040 foreign buyers, covering more than 50 countries and regions around the world.
With the signing of RCEP, WBE organizers will pay more attention to the invitation of buyers from RCEP member states to promote interaction, trade and cooperation between RCEP member states and the Chinese battery technology market.
2021 World Battery Industry Expo (WBE)
Formerly Asia Battery Sourcing Fair (GBF ASIA)
Date: August 16th-18th, 2021
Venue: China Import & Export Fair Complex, Guangzhou
Website: www.battery-expo.com



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