Many companies in Asia are export-oriented nowadays, fueling the expansion of international trade in the region. The Regional Comprehensive Economic Partnership (RCEP), entered into force on 1 January 2022, is set to create the largest free trade bloc in the world among the 15 signatories, and shall further provide an impetus to Asian production. Chinaplas, which will be staged at the Shenzhen World Exhibition and Convention Center (SWECC), Shenzhen, on 17-20 April 2023, shall help buyers unlock the RCEP opportunities, and plug into the prosperous prospects brought by the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
Under the theme of "A Brighter and Shared Future, Powered by Innovation", Chinaplas 2023 will bring together the most innovative plastics solutions and relevant market trends in one place with an exhibition area of 380,000 sqm. Buyers from all over the world shall discover a well mixture of global and Chinese technologies, covering a wide range of application industries that are transforming the end market.
RCEP is turning Asia into the global manufacturing hub
The 15 signatories to the RCEP agreement, including China, 10 Asean member states, South Korea, Japan, Australia, and New Zealand, allows preferential market access for specific products in selected RCEP markets. Businesses in the region will now benefit from tariff elimination on more than 90% of goods over time. These products range from plastics and mineral fuels to miscellaneous food preparations and beverages, and other chemical products. With this fresh impetus injected by the RCEP, Asia is growing into the global manufacturing hub.
According to the statistics from the United Nations, Asia’s industrial value-added rose significantly from 2.7 trillion dollars in 2000 to 9.4 trillion dollars in 2019, whilst Asia’s share of world industrial value-added expanded from 35.9% to 50.9%. Among them, the share of China rocketed from 6.4% to 24.9%, while the share of Asean also went up from 2.8% to 4.8%. Focusing on the 15 members of the RCEP, they had a combined share of 40.2% by 2019, compared to 29.4% in 2000. Data revealed by Chinese Customs shows that, in 2021, imports and exports between China and the other 14 RCEP members totalled 12.07 trillion renminbi (up 18.1% by year), accounting for 30.9% of China’s total foreign trade value. Thanks to the liberalization under the RCEP, such development is expected to grow further in the next decade and create tremendous prospects for plastics and rubber industries.
Maximize GBA’s unique edge to grasp the RCEP opportunities
How companies from the GBA in sectors including manufacturing can seize the opportunities that arise from the RCEP? As the RCEP brings new development to businesses in the region, GBA companies can leverage the opportunities to go global.
Shenzhen together with Hong Kong in GBA shall generate synergy to expedite the global expansion of companies. For Shenzhen, with the strong policy support from the Central Government, it is expected to further grow into a center of innovation, entrepreneurship, and creativity. Hong Kong, with its strengths as an international trading hub, has long been a premium business platform to handle outbound investments from the mainland, including those to Asean and other RCEP members. These advantages shall give Shenzhen and Hong Kong a unique significance in such global expansion.
Embrace innovation to share a brighter future
In April 2023, Chinaplas will return to Shenzhen, the gateway city to the GBA and RCEP, as well as the thriving innovation and technology hub in Southern China, converging different end markets and quality suppliers to foster collaborations and inspire innovations. The upgrading technologies and ever-smarter solutions in Chinaplas 2023 shall better assist the industry not only to capture these emerging opportunities in RCEP and GBA, but also to react fast in the rapidly changing market like now.
It is expected that there shall be more than 3,900 renowned exhibitors in Chinaplas 2023, including 9 country/region pavilions from Austria, France, Germany, Italy, Japan, Switzerland, United Kingdom, United States, and Taiwan region. The 18 theme zones, located at machinery halls and chemical and raw material halls, shall cover injection molding solutions, extrusion machinery, 3D technologies, recycling technology, smart manufacturing solutions, bioplastics, composites and high-performance materials, thermoplastic elastomers and rubber etc.
Chinaplas has become a preferred platform for the plastics and rubber industries to debut new products and solutions and showcase innovative materials and machinery technologies. Not to mention the cutting-edge technologies and practical solutions from all over the world, many strong-rising Chinese technologies from local suppliers growing towards "Professionalization, Refinement, Specialization and Innovation" will also be introduced. Buyers from different application industries, such as automotive, building materials, electronics and electric, medical and healthcare, new energy, packaging, recycling, and sports and leisure, shall be excited about the technologies and solutions presented in the fairground.
Besides the showcase, a lot of can't-miss concurrent events, including but not limited to a variety of seminars on the circular economy, smart manufacturing, and design and innovation, will also be organized during Chinaplas 2023, making it a weighty occasion to explore the breakthrough and advancement of plastics and rubber industries.