China Jiangxi issues 23,771 certificates of origin for goods exported to RCEP countries in H1

Aerial photo taken on Sept. 11, 2019 shows a view of Longtougang Port in NanchangCity, east China's Jiangxi Province. (Xinhua/Peng Zhaozhi)

Local customs in Nanchang, capital of east China's Jiangxi Province issued 23,771 certificates of origin under the Free Trade Agreement (FTA) for goods exported to the Regional Comprehensive Economic Partnership (RCEP) member countries in the first half of this year, with a total value of 10.7 billion yuan, according to Nanchang customs.

The RCEP agreement offers Jiangxi's local products such as steel, chemical as well as electromechanical products to enjoy the opportunity of tax reduction, and lowers the cost for importing advanced technologies, key equipment and components, according to Nanchang customs.

The customs added that the RCEP agreement specifies the provisions of rules of origin, which will lower the threshold of enjoying tariff concessions, and provide more commodities with the opportunity to enjoy tariff reduction.

The RCEP, signed in November 2020, embrace 15 members, including the Association of Southeast Asian Nations (ASEAN) as well as China, Japan, the Republic of Korea (ROK), Australia and New Zealand. It is the world's largest free trade zone across a wide assortment of indicators.

The Nanchang customs has established a list of key enterprises and products for trade with RCEP member countries, and publicized the preferential policies of RCEP agreement for enterprises, aiming to guide local enterprises to better understand the rules of origin of RCEP and grasp the new opportunities brought by RCEP agreement.