Regional Comprehensive Partnership(RCEP) is a free trade agreement among the Asia-Pacific nations, Signed in November 2020, which is the first free trade agreement among the largest economies in Asia, including China, Indonesia, Japan, and South Korea.

In terms of industrial chain cooperation, the country of origin preference will cover more countries/regions. For example, a Chinese company produces Air Purifiers and exports them to ASEAN countries. The production uses components such as compressors made in South Korea, which exceed 60% of the price of the whole machine. If the China-ASEAN Free Trade Agreement is applied, it fails to meet the specified regional value components. the Since the products exporting to ASEAN contain More than 40% of the origin standard, it cannot enjoy preferential tariffs. However, according to RCEP regulations, Korean-made compressors can be regarded as the accumulated value of regional origin materials, and Air Purifiers assembled in China using Korean-made compressors can be exported to ASEAN, and they can enjoy preferential tariffs.

Apart from the country of origin preference, RCEP also has corresponding tax reductions for the import of complete home appliances. For example, on the basis of the ASEAN Free Trade Agreement, Brunei has added zero-tariff product commitments on electric fans, air Purifiers, refrigerators, washing machines, vacuum cleaners, water heaters, televisions, electric lights, etc., which will promote the further development of Chinese product export trade.

RCEP will further promote Chinese e-commerce companies expanding into the Asia-Pacific market. At present, Chinese e-commerce companies are achieving good results in the expansion of the Southeast Asian market. RCEP has reached important consensus on cross-border information transmission, information storage and so on. These contents will provide institutional guarantee for the members to strengthen cooperation in the field of e-commerce, helping to create a good business atmosphere for the development of e-commerce, enhancing the mutual trust in policies, mutual recognition of regulations and business interoperability among members in the field of e-commerce, and greatly facilitating the development of e-commerce in the Asia-Pacific area. Home appliance companies can take advantage of channels to further expand their business.