Accelerating domestic and international dual circulation in the Chinese shipping industry—An assessment from the aspect of participating RCEP

In the context of increasing uncertainties in the global political and economic situation, the signing of the RCEP marks an initial victory for multilateral trade and economic globalisation. This has also been welcomed by China’s shipping industry and has eased the decline in the shipping market, which had resulted from the economic downturn and the impact of the COVID-19 epidemic. In order to realise the stable development of the shipping industry, however, it is not only necessary to make full use of the policy dividends resulting from the RCEP but also to recognise the higher requirements that the RCEP places on the shipping industry, in the new norms of international cooperation. It is suggested that, driven by the RCEP, building international shipping hubs, using new technologies to promote the development of the shipping industry and related service industries and forming a domestic and international dual-circulation industry development structure, are the main directions for the future development and the sustainability of China’s shipping industry.