Certificates of origin boost Shanxi foreign trading firms
The issuing of key certificates of origin has given a huge boost to foreign trading enterprises in North China's Shanxi province, as they enjoy preferential treatments in their exports.
A certificate of origin is an increasingly important document issued by a specific agency in an exporting country, certifying that the goods are made or produced in that country or region. Because it can prove the nationality of the merchandise, it is also called the "economic passport" of goods in international trade.
In the recent first week of the implementation of the Regional Comprehensive Economic Partnership, or RCEP agreement, Taiyuan Customs issued eight RCEP certificates of origin to businesses, involving a visa amount of $153,900.
Datong customs – based in Datong city in Shanxi province – has promoted the intelligent audits of certificates of origin, reducing companies' declaration handling times to a few minutes from the previous one working day.
As for Linfen customs – based in Linfen city in southern Shanxi province – certificates of origin that have been issued there are said to have helped local enterprises enjoy tax reductions of $8.44 million from other countries and regions in 2021.