Aerial photo shows a China-Europe freight train bound for Helsinki, Finland departing from Putian Station of Zhengzhou, central China's Henan Province, Nov. 20, 2020. (Xinhua/Hao Yuan)
BEIJING, Feb.11 (Xinhua) -- The Regional Comprehensive Economic Partnership (RCEP) has enabled multiple industries in Central China's Henan Province to benefit from tariff concession since entering into force on Jan 1, 2022, reported Shanghai Securities News Thursday.
On February 9, the Zhengzhou Customs reported that it had issued 355 RCEP certificates of origin for 90 enterprises across Henan in the first month when RCEP took effect, benefiting goods of 160 million yuan with an estimated tariff concession of 620,000 yuan.
It is introduced that the export destinations of Henan to enjoy such export benefits mainly include Japan, Australia, Thailand, Singapore and Vietnam, with the export products involving chemicals, textiles, agricultural products and aluminum products, etc.
Export products like furfuryl alcohol, sodium silicate, viscose rayon, cotton yarn and aluminum foil enjoy a tax discount of 0.3 to 0.5 percentage point from Japan for the first time. Agricultural products such as dried mushroom and dried black fungus exported to Vietnam enjoy a three-percent reduction in customs duties. The tax rates of plastic flowerpots, silica sol and other commodities exported to Australia drop to zero.
The new RCEP regime has also further optimized the process of handling tariff concessions. The approved exporter system proposed by RCEP is one of the highlights, under which the high-level verified enterprises approved by the customs can issue their own declarations of origin so as to better enjoy the benefits of tariff concession.
Recently, upon the approval of the Zhengzhou Customs, Xinxiang Chemical Fibre Co., Ltd., a large-scale enterprise specialized in textile raw materials, became the first approved exporter under RCEP in Henan. The company issued Henan's first RCEP-approved exporter declaration of origin for viscose rayon exported to Japan. With this declaration, the company enjoys over 1900 yuan of tariff reduction from Japan.
"On February 1, the RCEP came into force for the Republic of Korea. It will come into force for Malaysia on March 18. As RCEP takes effect in more and more member economies, the benefits brought by tariff concession will be unleashed at a faster pace," said an official from the Zhengzhou Customs.
(Edited by Tong Ting, Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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