On December 20, the China-ROK and China-Australia free trade agreements (FTAs) formally put into effect. Following that, more than 90% of Chinese and South Korean products will gradually enter the age of “zero tariff”. At the same time, 96.8% of Chinese commodities exported to Australia will be covered by the tax exemption policies.

 

The same day, under the application of the enterprises in Guangzhou, the Guangzhou Council of China Council for the Promotion of International Trade (referred to as CCPIT Guangzhou) signed the first eight Preference Certificates of Origin under the China-ROK and the China-Australia FTAs, covering a variety of products including plastic products, shoes, textile products and chemical products, totally valuing USD210,382.32, with total tariff reduction and exemption of USD11,930.9. The certificates were signed on-line so that the enterprises involved can go through the application procedures and print the certificates at their offices.

 

Source: Translated from Invest Guangzhou, December 25, 2015