The high-quality production capacity of Changsha is going to RCEP with lower import cost and more export opportunities

2022-05-28 0 By

In the first two months of this year, Changsha’s import and export to RCEP countries reached 15.43 billion yuan, up 31.7%.The Regional Comprehensive Economic Partnership Agreement (RCEP) officially came into force on January 1 this year.As the “circle of friends” grows, the RCEP will play a bigger role and bring more dividends to foreign trade companies.Changsha’s imports and exports to RCEP countries reached 15.43 billion yuan in the first two months of this year, up 31.7%, according to data released by Xingsha Customs on Wednesday.”We expect that this certificate will bring 15,000 yuan of tariff reduction for your company. We hope you will have a better development in the Malaysian market.”On March 18, Fang Hong, chairman of Bichamp Cutting Technology (Hunan)Co.,Ltd., received the first RCEP certificate of origin from Hunan province to Malaysia handed to him by the staff at Xingsha Customs.Taijia new Material exported a batch of high-precision machine tool cutting metal saw blades, with a total of 10,300 meters and a value of 298,000 yuan.With the RCEP certificate, the import tax rate of this batch of metal saw blades in Malaysia has been reduced from 5% to zero, which is expected to save 15,000 yuan of tariff.Taijia new Material is the leading enterprise of research and development and production of saw blade in China, whose products are widely used in automobile manufacturing, aerospace, metallurgy, nuclear power and other manufacturing fields.”The implementation of RCEP will create favorable conditions for the company’s products to enter the markets of Japan, South Korea and ASEAN.”Fang Hong is full of confidence.Since January 1 this year, RCEP has entered into force in 12 countries, including China, Australia, New Zealand, Japan, the Republic of Korea and ASEAN member states (Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam and Malaysia).Truking Technology Limited is a pharmaceutical equipment manufacturer mainly exporting to Southeast Asia.After RCEP came into effect, Xingsha Customs contacted the enterprises in a timely manner and reissued RCEP certificates of origin to a batch of pharmaceutical production lines that had been exported to Thailand. The company obtained a tariff reduction of 178,000 yuan after its goods arrived in Thailand.”For businesses, the biggest benefit of RCEP coming into force will be lower import costs and more export opportunities as a result of lower tariffs.”As of March 21, Xingsha Customs has handled 67 RCEP certificates of origin for export enterprises in Changsha, with a visa amount of 31.404 million yuan, and is expected to enjoy tariff reduction of 1.572 million yuan in the destination country.The main destination countries involved are Japan and Thailand.RCEP has injected new impetus into Changsha’s foreign trade.In the first two months of 2022, the total import and export value of Changsha reached 43.72 billion yuan, accounting for more than 50% of the province and 26% higher than the same period of last year. The growth rate was 12.7 percentage points higher than the national level and 15.3 percentage points higher than the provincial level.The implementation of RCEP is an important platform for China to build a new development pattern.A series of practical advantages brought by the agreement, such as tariff reduction, trade facilitation and factor circulation, will bring new opportunities to the development of Changsha’s foreign trade.Japan is the only RCEP member country that has not signed a free trade agreement with China.Through the RCEP, China and Japan have for the first time agreed on tariff concessions, which will expand the volume of goods trade between the two countries.Statistics show that in the first two months of this year, Xingsha Customs issued 51 RCEP certificates of origin for goods exported to Japan, with the amount of visas amounting to 20.976 million yuan, accounting for 89% and 74% of the total number of visas under its jurisdiction respectively, and enterprises obtained about 1.02 million yuan in tariff concessions.Export products mainly involve textiles, plant extracts and so on.”RCEP will bring more preferential tariff concessions to Changsha’s foreign trade with Japan in industries such as automobiles, textiles and cosmetics compared with previous ones.”According to the official of Xingsha Customs, when RCEP came into effect, the tariff rate of auto parts imported from Japan by Changsha auto companies was reduced by 1%, decreasing year by year until it reached zero.Apparel exports decreased year by year until zero;The export of raw materials for beauty cosmetics immediately fell to zero.Gac mitsubishi motors co., LTD., mainly through general trade import auto parts from Japan to changsha factory used for vehicle production, purchasing department minister Jennings, long RCEP will reduce the cost of purchasing, to implement the average tariff rate will drop by about 1%, 142 kinds of imported components will direct zero tariff, estimates 2022 can save tax 2.7 million yuan of above.”There is strong industrial complementarity between Changsha and RCEP member countries, and the RCEP’s coming into effect will greatly promote Changsha’s foreign trade.”The person in charge of the Municipal Bureau of Commerce introduced that Changsha has the export competitive advantage of intelligent equipment, construction machinery, new materials, mobile phone parts and other products, which is in line with the characteristics of industrial development, consumption level and the demand of infrastructure construction growth of ASEAN countries.Chemical, non-ferrous metals, food processing and other industries will reduce the procurement cost of resource products.Japanese cosmetics, Australian wine, Vietnamese fruit…After zero tariffs, consumers are expected to buy more affordably and have more choices.In the first two months of this year, Xingsha Customs issued several RCEP certificates of origin for equipment manufacturers such as Shanhe Intelligent and Zoomlion Heavy Science and Technology co., LTD., and obtained about 250,000 yuan of tariff reduction from the destination countries.It is estimated that changsha equipment manufacturing enterprises can save about 3 million yuan of tax a year.According to customs statistics, in the first two months, the total import and export volume between Changsha and its RCEP trading partners was 15.43 billion yuan, up 31.7% year on year.Among RCEP countries, South Korea, Thailand, Vietnam, Australia, Japan and Indonesia are among the top ten countries and regions in changsha’s import and export trade.As pointed out in this year’s government work report, “As the RCEP has become the world’s largest free trade area, we need to support enterprises in making good use of preferential tariffs and accumulation of origin rules to expand trade and investment cooperation.”How to make good use of this dividend to promote Changsha to embrace the world better?”To make high-quality use of RCEP, enterprises must improve their internal skills, enhance their core competitiveness and speed up the development of international business.”Star sand customs concerned person in charge said.Recently, changsha’s first RCEP policy interpretation training was held in Kaifu District.Since the beginning of this year, customs, commerce, districts and counties have jointly strengthened RCEP policy training and business guidance for enterprises.”Going forward, Changsha will focus on tariff concessions, industrial cooperation, investment attraction and channel construction to deepen economic and trade cooperation with RCEP countries.”Municipal Bureau of Commerce related person in charge.For example, Changsha will encourage construction machinery, agriculture and other high-quality production capacity to RCEP countries, and promote construction machinery enterprises to set up assembly, maintenance bases and R&D centers in asean, Japan, South Korea and other key regions.We will give full play to the role of pilot free trade zones, Xiangjiang New Area in Hunan province, state-level parks, and key areas, and bring in world-renowned enterprises from RCEP countries.Copyright to the original author, pay tribute to the original