Approved exporter XCMG gets Jiangsu’s first RCEP certificate of origin

2022-01-04 15:49:00

Xuzhou Construction Machinery Group Co., Ltd. (XCMG), a leading Chinese machinery manufacturer, became the first company in Jiangsu Province to benefit from the Regional Comprehensive Economic Partnership (RCEP) agreement that took effect on January 1.

Nanjing Customs issued the province’s first RCEP certificate of origin to XCMG, one of the first batch of approved exporters in China, for a concrete mixer to be exported to Thailand, which helped reduce tariffs by 46,500 yuan.

There are two options in RCEP for evidencing origin, the documentation required for preferential tariff treatment: a third-party issued certificates of origin and self-declaration by approved exporters. The self-declaration option will effectively reduce the compliance cost of enterprises and enhance customs clearance.

Also on January 1, 16 customs agencies in Changzhou, Nantong and Suzhou Industrial Park issued 36 RCEP certificates of origin involving an export value of more than $5.48 million.

With these certificates of origin, it is expected to reduce tariffs by 349,600 yuan in the importing member countries.

Also on the same day, Kunshan Customs handled the customs clearance procedures for imported goods, and the importer may get a tariff cut of 537 yuan after providing the required origin document.