Xiamen issues RCEP certificates of origin for products worth over $15m
Xiamen Customs in Xiamen, Fujian province issued a RCEP (Regional Comprehensive Economic Partnership) certificate of origin for textile raw materials worth 592,000 yuan ($93,065.27) on Jan 13.
It marks that Xiamen Customs has issued a total of 178 RCEP certificates of origin to 85 Xiamen companies for products worth over 100 million yuan since the RCEP agreement took effect on Jan 1 in China, Japan, Australia, New Zealand, and six ASEAN member countries (Brunei, Cambodia, Laos, Singapore, Thailand, and Vietnam).
The textile raw materials will be exported by Xiamen Justsun Supply Chain Co to Cambodia and the exporter will receive a 410,000 yuan tariff reduction from the import country with the certificate.
The RCEP certificates of origin were issued for products including agricultural produce, aluminum products, umbrellas, and chemical products, which were exported to Japan, Thailand, Vietnam, and Cambodia.
The RCEP certificates of origin are estimated to help the Xiamen companies reduce tariffs in import countries by more than 1 million yuan.
Currently, export companies can enjoy preferential tariffs in countries where the RCEP agreement has taken effect with a RCEP certificate of origin, which is an important international trade document that certifies that goods in a particular export shipment are wholly obtained, produced, manufactured or processed in a particular country.
Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.