The Nanjing Customs District issued 310,000 certificates of origin under the Regional Comprehensive Economic Partnership (RCEP) for exports valued at 98.794 billion yuan from 2022 to 2024, ranking first nationwide, as the agreement marked its third anniversary on January 1.
Customs data estimates that companies in importing countries have enjoyed tariff cuts amounting to 988 million yuan since the agreement’s implementation on January 1, 2022. Meanwhile, companies within the Nanjing Customs District also imported 58.337 billion yuan of goods from RCEP members in the same period, with tariff concessions amounting to 1.383 billion yuan. More importantly, in this trade development, Jiangsu enterprises have increasingly strengthened their connections with the global industrial and supply chains.
The RCEP has significantly promoted the free movement of production factors such as raw materials, products, technology, personnel, capital, information, and data. This has fostered the gradual development of a more prosperous regional integrated market, greatly enhancing the scope and depth of cooperation among member states. Thanks to the agreement, companies from RCEP countries can enter Chinese market at lower costs and enjoy more streamlined customs services.
