Yiwu issues record number of certificates of origin for exporters

chinadaily.com.cn| Updated :2024-06-19

In Yiwu, the issuance of certificates of origin surged, with a record-breaking 133,500 certificates granted from January to May. These certificates have facilitated exports worth $2.03 billion, marking significant year-on-year growth. They are vital for exporters to gain tariff reductions and preferential treatment in importing countries.

Yiwu Customs has been instrumental in this growth, offering targeted guidance to businesses on leveraging the certificates, especially with Japan's recent tariff cuts under the Regional Comprehensive Economic Partnership.

The result has been a tangible boost in international competitiveness for companies like Yiwu Xinyi Import and Export Co Ltd, which has enjoyed more than 8 million yuan ($1.11 million) in tariff savings.

The RCEP agreement, now a year into full effect, has been a boon for Yiwu's exporters, providing access to the largest free trade zone by population and economic scale. Yiwu Customs continues to support local businesses with specialized research and one-on-one assistance to maximize the benefits of RCEP.

In a move towards greater efficiency, 94 percent of Yiwu's certificates can now be printed via self-service, reducing processing times to under a minute.

This initiative underscores Yiwu's commitment to enhancing export efficiency and competitiveness, encouraging businesses to utilize these advancements for continued growth in the global market.