West Coast New Area

Qingdao companies reap huge RCEP benefits

( | 2024-04-12


In the first quarter of this year, Qingdao Customs issues a total of 28,000 RCEP certificates of origin. [Photo/WeChat account: zggmsb]

In the first quarter of this year, Qingdao Customs issued a total of 28,000 RCEP certificates of origin, ranking first in the country in terms of the number of certificates issued, official statistics showed.

The export value of preferential goods reached 6.03 billion yuan ($829.67 million), representing a year-on-year increase of 17.5 percent year-on-year. Since the implementation of the RCEP, Qingdao Customs has issued a total of 223,000 RCEP certificates of origin, with the export value of preferential goods reaching 51.75 billion yuan. Relevant enterprises can enjoy more than 500 million yuan in tariff reductions from RCEP member countries.

Recently, a hat company in Qingdao applied for the RCEP certificate of origin for a batch of sports caps exported to Japan.

"With this certificate, the import duty rate for our exported sports caps entering Japan will be reduced from 3.2 percent to 2 percent. For this batch of goods alone, we are saving nearly 10,000 yuan in tariffs," said Gao Leixu, logistics manager of the company's business department.

Since the implementation of the RCEP, Qingdao Customs has continuously strengthened information and data sharing, promoted mutual recognition of origin verification results, and achieved simultaneous progress in RCEP implementation and one-time completion of origin verification, helping companies fully reap the benefits of the RCEP.

"While the RCEP has reduced tariffs and enhanced export competitiveness, the accumulation rules of origin under the agreement have also brought us new business opportunities," said Shen Zhaohua, chairman of Shandong Meijia Group Co Ltd.