Abstract: The official entry into force of RCEP in 2022 is of great significance for deepening economic cooperation in the AsiaPacific region. In the context of rebalancing the division of labor in the global value chain, Japans choice to participate in RCEP not only shows that deepening regional economic cooperation will help promote Japans economic growth, but also is of great significance to improving its widearea economic cooperation goals. Japan will continue to strengthen economic and trade cooperation with China, deepen economic and trade relations with ASEAN, strengthen cooperation with the United States and India outside the region, and actively participate in the formulation of new economic and trade rules to improve the stability of its industrial chain and supply chain and expand the coverage of economic and trade agreements scope, and compete for the right to formulate economic and trade rules. After the RCEP comes into effect, the economic and trade interdependence between China and Japan will be further deepened. However, Japans adjustment of the layout of the industrial chain and supply chain, and strengthening of international economic and trade and strategic competition will also have an impact on China.

Key words: RCEP, global value chain, industrial chain, supply chain, economic and trade rules, economic and trade cooperation