The coastal city of Qingdao in East China's Shandong province issued 112,000 certificates of origin under the Regional Comprehensive Economic Partnership (RCEP) agreement in 2023, a year-on-year increase of 35.3 percent and the most in the country, according to local authorities.

The certificates are expected to reduce tariffs by nearly 300 million yuan ($41.73 million) for Chinese products in RCEP importing countries.

As the world's largest free trade agreement, the RCEP has been in effect for over two years.

Qingdao Xueda Group Co Ltd recently applied for RCEP origin certificates for a batch of men's knitted underwear exported to Japan.

"With this certificate, our exported goods can enjoy a tariff reduction of nearly 40,000 yuan upon clearance in Japan," said Liu Yuanchao, manager of the company's documentation department.

Throughout 2023, the company applied for nearly 300 RCEP origin certificates, with the benefits to export value exceeding 1.5 billion yuan.

The policy of tariff reductions under RCEP has continued to pay dividends and further enhance the competitiveness of Chinese enterprises in exporting products. The tariff reductions also strengthen the resilience of regional industrial and supply chains and are an important force in stabilizing the foundation of China's foreign trade.

Qingdao Customs establishes the first batch of RCEP community service stations to providing customs policy promotion and one-on-one guidance services. [Photo/Dazhong News]