At 0:00 on January 1, Qingdao Customs issued the certificate of origin for the 2800 tons of calcium chloride exported by Qingdao Gulf Group Co., Ltd. to Japan at the RCEP Qingdao Economic and Trade Cooperation Pilot Innovation Test Center. The first RCEP certificate of origin issued by China after the Regional Comprehensive Economic Partnership Agreement ("RCEP") came into effect on January 1, 2022.
After the RCEP took effect, China and Japan implemented bilateral tariff concessions for the first time.
According to the calculation of the static trade data of Shandong Province with Japan in 2020, in the first year of RCEP’s entry into force, Shandong Province’s exports can enjoy tariff reductions of about 380 million yuan in Japan; after the RCEP completes the tax reduction process, Shandong Province’s imports from Japan can reduce tariff costs. About 900 million yuan.
According to the statistics of Qingdao Customs, in the first 11 months of 2021, Shandong Province's import and export to other RCEP member states was 937.19 billion yuan, a year-on-year increase of 35.4%.
According to reports, RCEP covers approximately 30% of the world’s population, 30% of the total economic output and 30% of foreign trade. It is China’s free trade agreement with the largest participating population, the most diverse membership structure, and the greatest potential for development so far.
RCEP is determined to be officially effective for 10 members including China, Japan, Australia, New Zealand, Brunei, Cambodia, Singapore, Thailand, and Vietnam from January 1, 2022, and will implement tariff concessions among the 10 countries.
(Reporter Hu Yaojie produced the video of Le Xiaomin, sourced from Qingdao Customs)
Editor in charge: [Liu Xian]