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Certificate of origin leads to expanded market
en.nbwh.gov.cn2017-03-16

The FTZ certificate of origin has become a key for Ningbo enterprises to explore the new market. It is learned from Ningbo Inspection and Quarantine Bureau that in the first two months of this year, the bureau issued 66,800 pieces of certificate of origin with a total value of US$2.153 billion, including 27,000 pieces of FTZ preferential certificate of origin with a value of US$775 million, up by 12.76% and 4.92% respectively over the same period of last year. If calculated with the average 5% of tariff preference, the FTZ certificate of origin may lead to a tariff allowance of US$38.75 million.
According to the terms of the bilateral and multilateral free trade agreements, the exported commodities backed with the FTZ certificate of origin are entitled to certain tariff allowance or exemption. Statistics show that among the various kinds of FTZ preferential certificate of origin, the top five are those of China-Australia FTZ, China-ASEAN FTZ, China-Korea FTZ, China-Chile FTZ and China-Switzerland FTZ in terms of amount, accounting for 92% of the total. Compared with the same period of last year, the China-New Zealand FTZ certificate of origin witnesses the largest amount increase, from 59 to 109, while the China-Peru FTZ certificate of origin witnesses the largest visa value increase, from US$19.37 million to US$38.78 million.
Ningbo Inspection and Quarantine Bureau warns the local exporters to follow the negotiation progress of the bilateral or multilateral free trade zones and make full use of the FTZ policies to reduce the export costs and enhance the competitiveness of their products.

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