In the first half of the year, Guangzhou signed 81,000 certificates of origin to reduce and exempt tariff of USD123 Million for exporters under the jurisdiction of Guangzhou. On August 11, Guangzhou Entry-Exit Inspection and Quarantine Bureau said that it signed a variety of certificates of origin concerning USD2.587 billion in the first half of the year.

 

Official from Guangzhou Entry-Exit Inspection and Quarantine Bureau said, “Due to the economic downturn in the western markets and EU’s cancellation of GSP treatment to China, the amounts related to the GSP certificates of origin and general certificates of origin respectively had a year-on-year decline of 25.9% and 17.3%.” However, the number of regional preference certificates of origin saw an obvious increase to reach 44,600, up 17.4% year-on-year, concerning USD1.558 billion, up 9.72% year-on-year. The numbers of certificates of origin related to China-ASEAN FTA, China-Singapore FTA and importing countries under Asia-Pacific Trade Agreement, such as ROK, Sri Lanka, Bangladesh and India, had a sharp increase, with amount concerned increasing by more than 15%.

 

Statistics indicated that, the number of regional preference certificates of origin signed by Guangzhou accounted for 47.3% of all the certificates signed by Guangzhou. It has exceeded the number of GSP certificates of origin for three consecutive years and become a new growth point of exports.

 

Source: Nanfang Daily, August 12, 2015