Since its entry into force on January 1 this year, the Regional Comprehensive Economic Partnership Agreement or RCEP has continued to release trade dividends. In the first 10 months, Jiangsu recorded RCEP visa export value of 41.998 billion yuan, ranking first in the country.
Changshu Weiyi Technology, a high-tech enterprise engaged in the research and development, production and sales of food-grade and high-end special industrial-grade cellulose materials, has sold its products to more than 70 countries and regions worldwide.
Changshu Customs recently issued RCEP certificates of origin for the company's four batches of cellulose materials worth USD 455,000.
With the certificate, the goods can enjoy the importing country's tariff reduction of nearly 10,000 U.S. dollars.
Xu Hongfang, Vice General Manager, Changshu Weiyi Technology Co., Ltd.
In the first 10 months of this year, our exports to RCEP member countries increased by nearly 40% year-on-year. We applied for a total of 49 RCEP certificates of origin, totaling $7.06 million, and the goods can enjoy tariff reduction of nearly $200,000 from the importing countries.
Changzhou Customs has set up a special window for RCRP consultation service and "online + offline" accurate promotion to help enterprises make full use of the policy.
AkzoNobel Group produces powder coatings that require a large amount of imported raw materials. Since the implementation of the RCEP policy, goods that meet the RCEP rules can be issued certificates of origin.
With the forward service of local customs, the enterprise has enjoyed the tariff reduction directly brought by RCEP policy, which has helped it further expand its foreign trade development potential.
Yang Wanjing, Import & Export Manager for China & North Asia, AkzoNobel Group
The country has given our company tremendous help, allowing us to expand our circle of friends, in Southeast Asia and East Asia. Now the RCEP rules of origin are more inclusive and bring very obvious tax benefits.
The Department of Commerce, Nanjing Customs and the Provincial Council for the Promotion of International Trade have jointly created a public service platform for the intelligent application of free trade agreements, which enables enterprises to enter the commodity code through the "FTA tax rate inquiry" section and query the optimal tax rate corresponding to the commodity with one click.
The Provincial Council for the Promotion of International Trade has actively built a platform for economic and trade exchanges and cooperation, and held nearly 20 online economic and trade docking and exchange activities for RCEP member countries to help Jiangsu-based foreign trade firms expand their international markets.
Local customs also fully carry out joint training on RCEP topics, the establishment of key enterprises "one-to-one" help list tailored to the "optimal benefit portfolio" to help enterprises to promote their trade on the international market.
From January to October this year, Nanjing Customs and the Provincial Council for the Promotion of International Trade issued a total of 121,000 RCEP certificates of origin. Related enterprises are expected to enjoy tariff concessions of nearly 336 million yuan from other RCEP member countries.
Since the start of this year, Jiangsu-based enterprises have enjoyed preferential imports of RCEP worth 10.57 billion yuan, enjoying tariff preferences of 186 million yuan.
Zhou Yusheng, Director of Nanjing Customs Tariff Department
We will take the spirit of the 20th Party Congress as our guide, deeply implement the measures of high-level opening up, explore the potential of tapping into RCEP policies, further assist enterprises to deepen cooperation with RCEP member countries, and strive to enhance the better use of RCEP policy by Jiangsu-based enterprises.
