As of June 30th,2022, the Regional Comprehensive Economic Partnership (RCEP) has been implemented for half a year.

www.tireworld.com.cn learned that this agreement is very beneficial to Jiangsu General Science Co., Ltd (hereinafter referred to as "GS").

Gu Yahong, Vice President of GS, said that RCEP enables our company to reduce supply chain risks.

In January this year, GS’s overseas investment project—Cambodia Factoryhas been officially approvedby the Jiangsu Provincial Department of Commerce.

Gu Yahong believes that investing in this project is a great support for our “Multi-LegOptions Strategy”,which can make business more sustainable.

According to her introduction, most of the production raw materialsneed to be imported after this factory is put into operation. However, with RCEP, this process will be more efficient,and customs clearance will be faster. Meanwhile, they will take advantage of preferential product tariff to furtherdevelop the Southeast Asian market.

Whether raw materials import or products export, trade is relatively free within the entire region.GS will rely on the three major production bases in China, Thailand and Cambodia to speed up the process of internationalization in the future.