China issues over 2.47 mln certificates of origin

BEIJING, June 30 (Xinhua) -- Over 2.47 million certificates of origin, involving 202.16 billion U.S. dollars, were issued by Chinese authorities from January 1 to June 25 of 2023, official data showed on Friday.

This shows that the dividend of tariff reduction has been gradually released, Yang Fan, spokesperson for the China Council for the Promotion of International Trade, told a press conference.

Some 92,700 certificates of origin were issued by Chinese authorities under the Regional Comprehensive Economic Partnership (RCEP) free trade agreement, up 72.73 percent year on year, and they involve approximately 3.22 billion dollars.

The certificates are expected to reduce tariffs by 48 million U.S. dollars for Chinese products in RCEP importing countries, Yang said.

Certificates of origin are documents widely used in international trade transactions. They state that the products listed have met sufficient criteria to be considered as originating in a particular country. The issuance of these certificates is widely regarded as a barometer of foreign trade.