This June marks the first anniversary of the Regional Comprehensive Economic Partnership taking full effect among all 15 signatories. Over the year since the RCEP came into full effect, the Qingdao Customs has signed and issued more than 120,000 RCEP certificates of origin, leading nationwide certifying authorities, and made RMB 25.48 bln worth of goods entitled to favorable treatment. The above two figures saw a year-on-year increase of 21.6% and 10.3%, respectively. Involved companies have enjoyed about RMB 380 mln in tariff concessions from other RCEP signatories.

To further enable companies to benefit from the RCEP, the Qingdao Customs has innovatively launched a virtual way to examine and issue certificates of origin for outward goods. Without changing office locations of issuing officers and the way of application for businesses, the Qingdao Customs has broken the existing customs territory boundaries, launched checks and approvals by category according to the agreement, and improved the overall allocation of human resources. Furthermore, business registrations for place of origin have been abolished, and efforts have been beefed up to promote intelligent examination and approval as well as self-service printing of certificates of origin, in a bid to make the issuing intensive, professional and intelligent.

The RCEP is a free trade agreement in the world covering the largest population, boasting the biggest economic and trade volume and having the most promising potential. Over the year since it came into full effect, the RCEP has injected new impetus for high-level cooperation and development for regional economy. As policy dividends continue to materialize, a growing number of foreign trade-oriented companies have received tangible benefits such as tariff concessions, simplified customs clearance, and trade and investment facilitation.  (Liu Lanxing)

A staff member in the Qingdao Customs issues the Shandong Province’s first RCEP certificate of origin for goods destined for the Philippines.  By Gao Ruigang