Nanjing Customs District had issued 15,200 certificates of origin under the Regional Comprehensive Economic Partnership (RCEP) by April 10 as the world's largest trade deal came into force for 100 days.  

The certificates of origin were for exports worth 5.716 billion yuan and expected to reduce tariffs of more than 57.16 million yuan. Nanjing Customs District also processed 626 imports worth 893 million yuan in the period, which involved tariff reduction of 14.66 million yuan. It has approved 19 exporters, 5 of which were issued 12 declarations of origin. 

Photo/CFP

The agreement has benefited many enterprises in foreign trade. Suzhou Xiangyuan New Materials Co Ltd, one of the large private enterprises producing polyurethane chain extenders in China, saw its exports to Japan rise by nearly 10% thanks to the lower tariffs under the RCEP agreement. 

As a large manufacturer of metal sheet processing equipment in Jiangsu, Yangli Group’s annual exports to Malaysia reached $10 million. Zhu Shaohua, manager of the Yangzhou-based group, said the company’s mechanical press is duty free when exporting to Malaysia and the electronic certificate of origin also facilitates the trade. 

Cheng Shin Tire & Rubber (China) Co Ltd, one of the largest tire producers, also enjoyed reduced tariffs of 1,741 yuan for imports from Japan worth $46,000. 

Zhou Yusheng, director of the Tariffs Department of Nanjing Customs District, said efforts will be made to monitor the implementation of the RCEP agreement and provide comprehensive services to enterprises so they can make the best use of favorable policy. Meanwhile, customs authorities will solve problems encountered by enterprises in a timely manner, improve policy research and communication, and enhance their ability to participate in international cooperation and competition. 

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