As part of the Regional Comprehensive Economic Partnership (RCEP) agreement, an ocean freight logistics channel has opened between Qingdao in east China’s Shandong Province and the Japanese port city of Osaka. Transit times have halved for ships operating on the Qingdao-Osaka route and the voyage is now comparable to air freight, but at a lower cost. The RCEP covers about 30 percent of the world’s population, 30 percent of global economic output and 30 percent of global foreign trade.
#rcep RCEP #china China #japan
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This story is an English language news item from CGTN. CGTN is a Chinese state-funded broadcaster.
China is the third largest country in the world by area and the largest country in the world by population. Properly known as the People’s Republic of China, the political territory of the country includes Tibet and Hong Kong. The capital is Beijing.
Japan is an island country in East Asia located in the northwest Pacific Ocean. Part of the Pacific Ring of Fire, Japan comprises an archipelago of 6,852 islands covering 377,975 square kilometers (145,937 sq mi); the country’s five main islands, from north to south, are Hokkaido, Honshu, Shikoku, Kyushu, and Okinawa. Tokyo is Japan’s capital and largest city.
Japan is divided into 47 administrative prefectures and eight traditional regions. The Greater Tokyo Area is the most populous metropolitan area in the world, with more than 37.4 million residents.
Japan is a great power and a member of numerous international organizations, including the United Nations (since 1956), the OECD, and the G7. Japan is a leader in the automotive and electronics industries.