Export goods worth over RMB 100 mln in NE. China's Heilongjiang benefit from RCEP policy

A total of 376 Regional Comprehensive Economic Partnership (RCEP) certificates of origin were issued by the Harbin Customs District in northeast China's Heilongjiang Province with a total value of 116 million yuan, reported Chinanew.com Monday.

The certificates issued are expected to help enterprises enjoy a tariff discount of about 3.5 million yuan from RCEP members as import sources, according to the Harbin Customs District.

The RCEP deal, which entered into force in January this year, covering 10 members of the Association of Southeast Asian Nations (ASEAN) and China, Japan, the Republic of Korea, Australia, and New Zealand so far, will eventually subject more than 90 percent of merchandise trade in the region to zero tariff and benefit the enterprises with certificates of origin.

In the first half of 2022, Heilongjiang saw its trade with RCEP members reach 11.18 billion yuan, up 23 percent year on year.

Heilongjiang Wanli Runda Biotechnology Co., Ltd., a large corn deep processing company, saw its export volume reach 230 million yuan in the first half of 2022, up 116 percent year on year.

Since the RCEP came into effect, the company’s export volume has maintained a momentum of rapid growth, which has strengthened its confidence to explore overseas markets, according to a source from the company.