According to statistics from the General Administration of Customs, in the first half of 2021, my country’s electrical machinery products and the 14 member states of the Regional Comprehensive Economic Partnership (RCEP) achieved a trade volume of US$4.13 billion, a year-on-year increase of 49.2%, higher than the overall industry growth rate of 10.8 Percentage points, accounting for 32.8% of the industry’s total import and export value.

Among them, exports were US$3.02 billion, a significant year-on-year increase of 53.3%, and the two-year average growth rate was 19.0%; imports were US$1.11 billion, a year-on-year increase of 39.2%, and the two-year average growth rate was 4.4%.
From a regional perspective, the import and export volume of our electrical products in ASEAN reached US$2.3 billion, a year-on-year increase of 90.7%, which was an outstanding driving force; trade with Japan and South Korea increased by 30.7% and 33.4% respectively; imports and exports to Australia and New Zealand dropped by more than 30% .
Benefiting from policies such as tariff reductions among some RCEP members, open market access, and the removal of some trade barrier measures, the trade of our motor products with RCEP countries has increased significantly.

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