Shen Danyang, spokesman of the Ministry of Commerce, said at the Ministry of Commerce's press conference on June 2 that the China ROK Free Trade Agreement is a great good thing that benefits enterprises and people of both countries. "To be specific, on the one hand, enterprises of the two countries will gain greater development opportunities, and on the other hand, Chinese consumers can also enjoy a lot of tangible benefits."

According to the Shanghai Securities News, Shen Danyang said, for example, in terms of goods trade, 91% of China's products will eventually be tariff free to South Korea, while 92% of South Korea's products will eventually be tariff free to China.

Shen Danyang said that China's textile and clothing, nonferrous metals, steel, machinery and equipment and other industrial enterprises can further reduce their export costs to South Korea and increase their market share in South Korea. Korean enterprises in machinery and equipment, chemical industry, LCD and other industries will also better share China's broad business opportunities. In terms of service trade and investment, the core concerns of enterprises of both sides have been basically met. "

For Chinese consumers, household appliances, daily chemicals, Korean specialty food, clothing, shoes and hats and other popular products that travel to South Korea for shopping or purchase on behalf of South Korea will be cheaper. For example, refrigerators, rice cookers, electric casseroles, electric ovens, induction cookers, microwave ovens, as well as some massage instruments, beauty instruments, etc. will eliminate the current 15% tariff within 10 years. The current 10% tariff on toothpaste and other oral cleaning products will be abolished within 10 years, and the tax on shampoo and bath products and skin care products will also be partially reduced by 20-35% within 5 years. The tariff of seaweed will be reduced from the current 15% to zero within 10-20 years, the current 25% tariff of pickles will be abolished within 20 years, and nearly 90% of aquatic products such as cod and frozen crab will be gradually abolished within 10 years. The tariffs on many clothing, shoes and hats will be reduced from about 15% to zero within 10-20 years. "

He also said that Korean consumers will also buy agricultural and aquatic products, clothing and footwear, household appliances and other products from China at a more favorable price. For example, the 20-30% tariff on some poultry products such as geese will be abolished within 20 years; At present, some aquatic products such as fish, cold water shrimp and shrimps with tariff of 10-20% will achieve zero tariff within 5-20 years; The tariffs on some vegetables, such as celery and beans, and on some fruits, such as pineapple and pears, will also be reduced from the current 30% to zero within 15-20 years. Some clothing and footwear products will achieve zero tariff in 10-20 years. The tariff on refrigerators and heating equipment will be reduced from 8% to zero within 10-20 years.