In the first three quarters of this year, Zhengzhou Customs issued a total of 5,291 RCEP certificates of origin, with a combined value of 1.84 billion yuan, reflecting year-on-year increases of 19.7% and 6.8%, respectively, said local authority on October 8. The total value of imports and exports benefiting from RCEP in Henan reached 2 billion yuan, reflecting a 12.4% increase compared to the previous year. Furthermore, 362 export companies applied for RCEP certificates of origin, an 11% increase compared to last year, surpassing the total number of certificate holders of 2022.
Shenma Industrial Co., Ltd., located in Pingdingshan, Henan, primarily exports tire skeleton materials including nylon industrial yarn and tire cord fabric, with key markets in RCEP member countries like Japan, South Korea, and the ASEAN nations. "With the RCEP certificate, the tariff on our industrial yarn exports to Japan dropped from 5.3% to 3.4%, and the tariff on tire cord fabric decreased from 6.6% to 4.2%," said Wang Bing, the company's foreign trade manager. As a result of the tariff reductions under the RCEP agreement, the company's exports to RCEP member countries exceeded 500 million yuan in the first three quarters of 2024.
As a major agricultural province, Henan has seen many agricultural enterprises expand their exports by taking advantage of the preferential tariff policies under the RCEP agreement. "The RCEP agreement has steadily boosted the competitiveness of our export products and strengthened our relationships with overseas customers," said Yan Lijuan, export manager of Henan Huaxin Food Trade Co., Ltd. The company is capitalizing on opportunities from the RCEP, especially in markets like Japan and Southeast Asia. In the first three quarters of this year, the company processed 131 RCEP certificates for products like frozen cooked duck meat and duck oil, gaining over one million yuan in tariff reductions in its export markets. (Chinese source: Henan Daily Reporter: Li Xiaohan Translator: Zhang Yahan Intern: Yan Jinyi Proofreader: Li Wenjing and Zhao Hanqing)
