A China-Europe freight train stops in Yiwu, Zhejiang province. [Photo provided to chinadaily.com.cn]

Yiwu in East China's Zhejiang province was listed by the provincial foreign trade initiatives leaders' office as a demonstration area in implementing high-level opening-up and cooperation under the Regional Comprehensive Economic Partnership agreement, the local commerce bureau reported on Nov 9.

Yiwu was the only county-level city in the province to receive the approval.

To expand into the markets of RCEP member countries, Yiwu has rolled out a number of plans to boost positive interplay between domestic and international economic flows.

As a key inland city piloting opening up, Yiwu has promoted economic and trade cooperation with RCEP member countries in trade, logistics, services and communication.

In the first three quarters of the year, the city has issued a total of 3,938 RCEP certificates of origin for exports worth $75.55 million to RCEP member states. These RCEP certificates of origin have reduced import tariffs on exported goods by over $793,600, according to official data.

During the same period, foreign trade between Yiwu and RCEP member states increased by 27.39 percent year-on-year to 58.25 billion yuan ($8.34 billion).

The RCEP involves 10 ASEAN member states, China, Japan, South Korea, Australia and New Zealand. The 15 states account for about 30 percent of the world's total population, gross domestic product and trade.

More than 90 percent of goods traded between member countries will eventually be subjected to no tariffs, according to the agreement.