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chinadaily.com.cn | Updated: 2022-04-18

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Taizhou imported $206 million worth of cargo from Regional Comprehensive Economic Partnership (RCEP) member states between January 2022, when the regional trade agreement took effect, and March 19, 2023, according to customs authorities.

About $2 million in tariffs were waived for these imports due to the agreement. During the same period, the city in East China's Zhejiang province issued 3,753 RCEP certificates of origin for its exports, with 90 percent granted for those bound for Japan, said Taizhou Customs.

One beneficiary of the certificates is Taizhou Huangyan Chengnan Mold and Plastics Factory, which has obtained 193 certificates of origin for its exports to countries like Japan.

According to Zhang Jian, general manager at the company, the tariff rate levied on the company's exports to Japan had decreased from 3.9 percent to 3.2 percent, resulting in a 300,000 yuan ($43,990.73) reduction in taxes in 2022.

Exports from Taizhou to Japan are primarily agricultural and sideline products, plastic products, textile and clothing, and chemical products.

The RCEP involves 10 ASEAN member states, China, Japan, South Korea, Australia and New Zealand. The 15 states account for about 30 percent of the world's total population, gross domestic product and trade.