RCEP leads to tariff reductions for Guizhou companies

Guiyang customs continues to make RECP preferential policies more easily available to companies. [Photo/ddcpc website]

From January to September, Guiyang customs in Southwest China's Guizhou province issued 299 certificates of origin as part of the Regional Comprehensive Economic Partnership (RCEP).

The certificate of origins allows RCEP member countries to enjoy preferential treatment such as tariff reductions and exemptions. With the certificate, companies can enjoy tariff reductions and exemptions on their exported goods.

The certificates were issued for goods worth $29.49 million and were expected to reduce or exempt $1.48 million in tariffs for companies. The goods were mainly chemicals and minerals exported to Japan and Vietnam.

Since the RCEP took effect on Jan 1 this year, Guiyang customs has continued to help companies make use of preferential policies. It has promoted the self-printing of certificates of origin to make cross-border trade more convenient and given promoted RCEP policies to help companies reduce costs.