Jinhua Customs issued a total of 1,028 RCEP certificates of origin in the first quarter of this year, with a total value of 190 million yuan ($26.26 million), marking an increase of 21.8 percent and 17.7 percent year-on-year, respectively, local media reported on April 17.
This entitles local enterprises to import tariff preferences amounting to 1.94 million yuan.
Li Gangtao, a representative of Wuyi Nature Home Furnishings Co, noted that thanks to the RCEP certificates of origin, his company's exports exceeded 60 million yuan over the same period, an increase of 36.8 percent year-on-year. Orders from Japan, meanwhile, have increased by 20 percent over the past two years.
Jinhua Customs has launched a set of policy packages including implementing measures such as "online application + intelligent review + self-service printing" for RCEP certificates of origin to reduce costs and increase efficiency for enterprises.
The RCEP, or Regional Comprehensive Economic Partnership Agreement, which came into effect on Jan 1, 2022, is currently the largest free trade agreement in terms of population coverage, economic scale, and development potential worldwide.
Since the implementation of RCEP, the tariff reductions, rules of origin cumulation, and trade facilitation have unleashed institutional dividends, bringing tangible growth and benefits to member countries and their enterprises.
