Hunan¡¯s Certificates of Origin to ¡°Belt and Road¡± Countries Surge
The Hunan Entry-Exit Inspection and Quarantine Bureau on May 22 announced that, between this January and April, Hunan has issued 12,943 certificates of origin for goods exported to the ¡°Belt and Road¡± countries, an increase of 53.66% over last year. The goods were worth $733 million, an increase of 76.95%. These certificates can cut more than $30 million in exporter costs.
A ¡®certificate of origin¡¯ (C/O) is a document used in international trade, identifying the shipped goods originating country. Exporters with certificates can lower their costs by reducing or avoiding tariffs.
¡°This year, we have issued more C/Os for exported goods to the markets along the ¡°Belt and Road¡± than that to any other countries and regions, both in terms of the number and value,¡± said a Hunan custom clearance officer. China reached free trade agreements and preferential trade arrangements with 24 countries and regions, including 15 along the ¡°Belt and Road¡±, to mutually recognize C/Os.
ASEAN countries were the largest recipient of Hunan¡¯s C/Os. During the first four months of 2017, Hunan issued 6,507 ASEAN-China Trade Area Preferential Tariff Certificate of Origin Form E, worth $405 million.
Hunan¡¯s important industrial sectors, such as rail transit, automobile, new materials, and renewable energy, are taking the opportunity to broaden their business in the ¡°Belt and Road¡± market.
Source: enghunan.gov.cn
A ¡®certificate of origin¡¯ (C/O) is a document used in international trade, identifying the shipped goods originating country. Exporters with certificates can lower their costs by reducing or avoiding tariffs.
¡°This year, we have issued more C/Os for exported goods to the markets along the ¡°Belt and Road¡± than that to any other countries and regions, both in terms of the number and value,¡± said a Hunan custom clearance officer. China reached free trade agreements and preferential trade arrangements with 24 countries and regions, including 15 along the ¡°Belt and Road¡±, to mutually recognize C/Os.
ASEAN countries were the largest recipient of Hunan¡¯s C/Os. During the first four months of 2017, Hunan issued 6,507 ASEAN-China Trade Area Preferential Tariff Certificate of Origin Form E, worth $405 million.
Hunan¡¯s important industrial sectors, such as rail transit, automobile, new materials, and renewable energy, are taking the opportunity to broaden their business in the ¡°Belt and Road¡± market.
Source: enghunan.gov.cn