There have been significant economic benefits enjoyed by foreign trade enterprises in Hangzhou, East China's Zhejiang province, since the implementation of the Regional Comprehensive Economic Partnership on Jan 1, local media outlets reported.
Statistics show that Hangzhou Customs issued a total of 21,728 RCEP certificates of origin in the first half of the year with an export value of 6.365 billion yuan ($949.66 million), bringing in more than 73 million yuan for local enterprises.
A tourism supplies company based in Hangzhou recently managed an RCEP certificate of origin application for a batch of tents worth nearly 1 million yuan exported to Japan. The RCEP certificate of origin will reduce the company's tariffs by about 10,000 yuan in Japan.
"This is the 12th certificate we have applied for this year. With guidance from customs, we have benefited from preferential policies for the first time and enjoyed over 60,000 yuan in tariff concessions through the RCEP in the first half of the year," said Shen Yanbin, the company's business department manager.
"The tariff benefits brought about by the RCEP have enhanced the competitiveness of our products in overseas markets. Last year, we exported an average of 100 to 200 tents a month, while this year the number has reached 800 to 900," Shen added.