Fujian Issues Over 50,000 RCEP Certificates of Origin, Stabilizing Foreign Trade
The Fujian region of China has issued more than 50,000 Regional Comprehensive Economic Partnership Agreement (RCEP) certificates of origin, totaling a value of 21.249 billion yuan, according to disclosures from Fuzhou and Xiamen Customs. Since taking effect in January 2022, the RCEP has achieved new results in promoting trade facilitation, integrating industrial chains, and benefiting small and medium-sized enterprises in the region.
Businesses in Fujian have reported tangible benefits from the RCEP certificate of origin. Huang Guoqing, head of Fuzhou Mingcheng Food Industry Co., Ltd., noted that the company has applied for more than 450 RCEP certificates of origin, resulting in over 7 million yuan in tariff concessions. Xiamen Baofeng Group Co., Ltd. has also seen positive results from applying for RCEP certificates of origin, with a preferential amount of 110,000 yuan.
As a result of the policy dividends of RCEP, Fujian’s trade volume with RCEP member countries has grown steadily. From January 2022 to October 2023, Fujian enterprises exported 689.2 billion yuan to RCEP member states, with main export commodities including mechanical and electrical products, textiles, and agricultural products. Imports from RCEP member states to Fujian totaled 530.121 billion yuan, with main imported commodities being iron ore, mechanical and electrical products, and coal.
Fujian’s customs authority is committed to optimizing the business environment and assisting companies in taking advantage of the opportunities presented by RCEP. Efforts will continue to be made to promote RCEP policies, assist companies in applying for approved exporter qualifications, issue independent declarations of origin, and help companies use these declarations to expand their overseas business opportunities. The aim is to amplify the effects of RCEP and further stabilize foreign trade in the region.