China’s Development of Cross-Border Economic Cooperation
Recently, 17 authorities including the Ministry of Commerce (MOFCOM) have jointly issued the Circular on Several Measures to Serve the Building of a New Development Pattern and Promote the High-quality Development of Border (Cross-border) Economic Cooperation Zones (the "Circular").
The Circular introduces measures on improving the functional layout, expanding international cooperation, supporting innovation and development of industries, optimizing the supply of factors, and improving systems and mechanisms. Among them, the Circular proposes supporting the high-quality implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP), including measures to guide and support relevant border (cross-border) economic cooperation zones and provinces where they are located to leverage the RCEP and other rule systems, further expand RCEP implementation training, and deepen cooperation with RCEP member countries in the fields of scientific and technological innovation, digital economy, and information communication. The Circular also highlights a forward-looking plan for mid-to-high-end industries and emerging business formats and supports the production of electronic information and auto parts for the markets of neighboring countries in border (cross-border) economic cooperation zones with mature conditions.