Between January and June, Anhui’s entry-exit inspection and quarantine bureau issued 20,571 copies of certificates of origin (C/O) to foreign trade businesses based in the eastern Chinese province, a year-on-year increase of 10.11 percent.
Among them, the copies of C/O under the China-ASEAN Free Trade Agreement (FTA) outnumbered those under the China-Australia FTA, ranking first.
In printed form or as an electronic document, the C/O is used in international trade to affirm that exported goods have been produced, manufactured and processed in a particular country. Such certificates are instrumental in proving goods of a certain origin fall within the framework of bilateral or multilateral FTA and other preferential tariff treaties.
The issued copies of the certificates involved exported goods worth $1.03 billion, and all of the exports qualified for a total of $72 million in tariff exemptions, saving money for local businesses.
China has signed 14 free trade pacts with 22 countries and regions around the world, including 11 ones involved in the Belt and Road Initiative.
In the first half of this year, the province saw a 9.97 percent year-on-year rise in the value of C/O issued to those Belt and Road Initiative countries, which stood at $535 million. That means local companies were exempted from $37 million tariffs.