Certificate of Origin Cuts USD 5.65 billion Tariff for Chinese Exporters

China had issued 3.96 million certificates of origin in the first 11 months to November, which reduced and exempted tariffs worth 5.65 billion U.S. dollars for Chinese exporters, the quality supervisor said Wednesday.

In January through November, exported goods with certificates of origin issued by the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ) were worth 113.1 billion U.S. dollars, GAQSIQ said.

A certificate of origin is a document used in international trade, stating from what country the shipped goods originate. Exported goods with certificates of origin are either a natural product of that country or have undergone the majority of manufacturing in that country.

A certificate of origin is required by a country's customs authority in deciding whether the imports should benefit from a preferential duty rate in accordance with special trading areas or customs unions.

Li Yingfeng, GAQSIQ's information office director, said many Chinese exporters are still unaware that the certificate of origin can give them preferential tariffs.

As Chinese exports tumble amid sluggish global demand, certificates of origin could help Chinese enterprises export as much as possible, Li added.

Source: CRIEnglish