Bright path ahead
Song Guoxin, president of China Cold Chain Industry Investments Group, said the reduction in tariff rates under the agreement is expected to cut the costs of imported frozen products by 5 percent on average within one or two years, potentially lifting the trade volume by 50 percent.

Song noted that his company is a newcomer to the cold chain industry with only several years of history, which makes it hard for it to take a dominant position in the market. He said the signing of the RCEP will change the business landscape and offer fresh opportunities.

"We will grasp the historic opportunities to gain a bigger share in the expanded market," he said.

Placing high hopes on the Bay Area's prospects, Song said they will pour more resources into the southern region. "Guangdong accounts for roughly 25 percent of the country's total food imports. Shenzhen, meanwhile, takes the lead in innovative development of supply chain finance. The region will be the focus of our business in future," he said.

Zhu Yanjun, general manager of Shenzhen Tomax Supply Chain Management, highlighted the role the government and business associations will play in the process.

"We hope the government and business associations could serve as a bridge between Chinese and foreign enterprises and build a platform to link them up, to help them better understand each other and enjoy the benefits brought by the trade pact," he said.

Li Gang, president of the Shenzhen Food Importers and Exporters Association, said the RCEP will have a profound impact on the flow of food products, brand building and agricultural development in member countries.

The association will be more proactive in helping Chinese industry players to expand their presence in other RCEP member countries by launching promotion activities and organizing meetings, he said.