Ningbo's origin certificate volume exceeds US$2 billion
- Details
- Category: Ningbo News
- Published: Monday, 16 March 2015 11:05
In the first two months of 2015, Ningbo signed 60954 copies of origin certificate, with a total volume of US$2.27 billion, up by 8.59% and 10.1% respectively, according to the statistics from Ningbo Inspection and Quarantine Bureau. With an average tariff reduction of 5%, this amounts to a tariff reduction of about US$22 million for the exports from Ningbo.
As China was removed from the list of GSP beneficiaries by the EU from January 1, 2015, the number of GSP certificates of origin in Ningbo in the first two months of the year has declined slightly compared with the same period in 2014. However, in recent years, China has continued to speed up the pace of free trade negotiations, and the inter-region trading costs have dropped significantly with the establishment of the FTAs, which has greatly promoted the trade growth in the region. For instance, the China-Switzerland certificates of origin issued since July 1, 2014 achieved good results in the first two months, with a total amount of 1013 copies, the volume involved amounted to US$24.2746 million.
The two months also witnessed the dramatic rise of the number of regional certificates of origin. The number of certificates of origin and the certificate volume for the China-ASEAN Free Trade Area increased by 27.97% and 41.46% respectively. And those of Asia-Pacific FTA, ECFA, China-Singapore FTA, China-Pakistan FTA, and China-New Zealand FTA maintained a growth of over 10%.
