China issues over 200,000 certificates of origin under RCEP

Source: Xinhua

Chinese authorities had issued 201,700 certificates of origin under the Regional Comprehensive Economic Partnership (RCEP) agreement by March 2023, China's trade council said on Wednesday.

The certificates are related to exports valued at a total of 8.41 billion U.S. dollars, and are expected to reduce tariffs by 126 million U.S. dollars for Chinese products in RCEP importing countries, Wang Linjie, spokesperson for the China Council for the Promotion of International Trade, told a press conference.

Since the RCEP agreement entered into force on Jan. 1, 2022, the council has supported local authorities, industries and enterprises to seize opportunities and expand trade and investment cooperation with RCEP members, Wang said.

RCEP certificates of origin have been welcomed by more and more enterprises, and have brought tangible benefits to China's foreign trade companies in securing orders on the global market, Wang said.

In the first quarter of this year, a total of 45,700 RCEP certificates of origin were issued, surging 105.54 percent year on year and involving approximately 1.64 billion U.S. dollars, Wang said.

Certificates of origin are documents widely used in international trade transactions. They state that the products listed have met sufficient criteria to be considered as originating in a particular country. The issuance of these certificates is widely regarded as a barometer of foreign trade.