"Orders from foreign customers are still pouring in during the Spring Festival." In the eyes of Gu Lili, foreign trade manager of Zhejiang Jiayi Thermal Insulation Technology Co., LTD., the top priority for the company is to speed up export orders and sell the thermos cups to Asian and European markets. At present, the company's employees are returning to work one after another. After the factory starts construction, a number of automatic production lines in the intelligent production workshop will be at full capacity to seize the construction period, grasp the progress, busy production, to ensure the realization of a "good start".　　

"At the beginning of 2022, our company had the honour to apply for the first RCEP certificate of origin in the province. The tax rate of our insulating cups exported to Japan was adjusted from 3.9% to 3.2%, and we enjoyed a tariff reduction of more than 200 thousand yuan for the whole year." Gu Lili said, "This year the tax rate was reduced to 2.8%, and the benefit level has been improved, which made our products more competitive and confident of further expanding exports."

According to Hangzhou Customs, since the Regional Comprehensive Economic Partnership (RCEP) came into effect more than a year ago, Hangzhou Customs has issued 52,800 RCEP certificates of origin to 2,346 enterprises under its jurisdiction, with a value of 19.845 billion yuan, helping enterprises to enjoy imports of 1.204 billion yuan. It can realize a tax reduction of about 217 million yuan for import and export goods of Zhejiang Province.

The export of many Zhejiang products to RCEP countries has increased significantly. Edible fungi is the fourth largest agricultural industry in Zhejiang Province, mainly exported to Japan, South Korea and other RCEP countries. Lishui is an important producing area, and the continuous release of RCEP policy dividends brings opportunities for the export of local edible fungi. So far, Japan has cut the tariffs on edible fungi imports under the RCEP twice in a row, from 9% to 7.4%. Under the policy dividend of the RCEP, the tariffs will be gradually reduced to zero within 10 years, with the benefits accruing year by year. According to Hangzhou Customs statistics, the export of edible fungi from Zhejiang Province to Japan reached 120 million yuan in 2022, with a year-on-year growth of 1.6%.

"In 2022, our company's edible mushroom exports hit a new high, and exports to Japan increased by more than 60 percent. Under the RCEP policy, our company's share of exports to Japan is expected to further expand." Zhejiang Jingning Nature Food Co., Ltd. salesman Zheng Xiangxiang said. In 2022, the company applied for 66 RCEP certificates of origin, involving 20,833,200 yuan and saving nearly 330 thousand yuan in tariff costs.

The implementation of the RCEP will also reduce the cost of importing raw materials for many import companies. Located in Tongxiang New Fengming Group Co., Ltd. is a large chemical fibre group enterprise, spinning oil agent is an important production additive of the company, and the annual use of large, Japan is the main source of the company's spinning oil agent.

Before the RCEP came into effect, the group had to pay a 10 percent import duty on the product. After the RCEP came into effect, the import duty of the spinning oil agent from Japan decreased year by year.

Gao Guoping, chief of the Foreign Trade Affairs Section of Xinfengming Group Co., LTD., quickly found the tax reduction rules including RCEP and other free trade agreements through the "RCEP Intelligent Benefit sharing Service platform" developed by Hangzhou Customs, helping enterprises to choose the "best solution" for export benefit sharing.

In the past year, Xinfengming Group imported about 380 million yuan of spinning oil from Japan and made a tax reduction of about 3.58 million yuan with the help of RCEP. "Lower import costs indirectly improve the price competitiveness of our finished exports in the international market." Gao said that enterprises should make full use of the RCEP policy opportunities to expand the international "circle of friends."

Translator: Liao Yiyi

Editor: Ye Ke, Liao Yiyi