RCEP Takes Effect

The island customs issued the first RCEP certificate of origin in the country; the first RCEP approved exporter in Zhejiang was born and issued the first certificate of origin; Taiyuan customs issued the first RCEP certificate of origin in Shanxi Province; the customs issued the first RCEP in Tianjin for enterprises Certificate of Origin.

On January 1, various customs districts in China reported the “good news” of the first import and export business after the Regional Comprehensive Economic Partnership (RCEP) came into effect. Foreign trade enterprises actively apply for the RCEP certificate of origin online. On the same day, Beijing’s pneumatic components, Tianjin’s medical and epidemic prevention materials, Zhejiang Zhoushan small seafood, Shaoxing chrysanthemum, Huzhou textile and clothing and other export commodities have successfully obtained the RCEP certificate of origin. The policy dividend of tariff reduction in the world’s largest free trade area.

With the entry into force of RCEP, China and Japan reached bilateral tariff concessions for the first time. The tariffs on 55.5% of Japan’s imports from China were reduced to zero, and China finally adjusted 86% of the tariffs on Japanese products to zero. According to the calculation of the static trade data between Shandong Province and Japan in 2020, in the first year that RCEP takes effect, Shandong Province can enjoy tariff reduction of about 380 million yuan in Japan; after RCEP completes the tax reduction process, Shandong’s imports from Japan can reduce tariff costs by about 900 million yuan.

It is reported that an approved exporter refers to an enterprise that has been legally recognized by the customs and can issue a declaration of origin for the goods it exports or produces that have the qualification of origin under the relevant preferential trade agreement. As one of the highlights of the implementation of RCEP, the approved exporter system is also an important facilitation measure for origin certification. An enterprise that has become an approved exporter does not need to apply for a certificate of origin to the customs one by one when exporting its goods. The enterprise can issue a declaration of origin at any time, which is used for exporting goods to enjoy benefits abroad. The effect is equivalent to the original certificate issued by the customs. Certificate of origin, the customs clearance efficiency of enterprises will be greatly improved.