Yangquan firm approved to issue RCEP declaration of origin
Zhongjia Abrasives Co, based in the city of Yangquan in North China's Shanxi province, became the city's first exporter able to issue declarations of origin for the Regional Comprehensive Economic Partnership (RCEP) agreement after being approved by Taiyuan Customs on June 7.
The signing of the RCEP agreement in November 2020 by 15 countries – including China – resulted in the creation of the world's largest trading bloc. The agreement, which came into effect on Jan 1, created a new model for the declaration of origin for approved exporters.
After being reviewed by the customs, enterprises that become approved exporters can independently issue a RCEP declaration of origin, which has the same effect as the certificate of origin issued by the customs, and enjoy a corresponding preferential tariff reduction.
"Now that we can independently issue a declaration of origin, it's easier to expand into the international market through our e-commerce platform with customs clearance time shortened," said Wang Bo, the company's general manager.
Wang Yi, director of Yangquan customs, which is affiliated to Taiyuan Customs, said that the customs will thoroughly implement 10 major measures of the General Administration of Customs to improve the stability and quality of foreign trade, as well as the 23 detailed measures of Taiyuan Customs, improve the structure of exported commodities, and expand exports so as to boost the steady growth of foreign trade in Yangquan.
So far, two exporters in Shanxi province have received approval to independently issue RCEP declarations of origin.