[Photo by Piao Feng for chinadaily.com.cn]
Since the Regional Comprehensive Economic Partnership (RCEP) free trade agreement took effect on Jan 1, many products made in Jinpu have been exported overseas at a lower cost, improving the competitiveness of exporting enterprises.
According to local statistics, in the first month after the RCEP agreement took effect, Dalian Customs issued 1,307 RCEP certificates of origin.
The preferential cargo value of exports and imports was 470 million yuan ($74.4 million), bringing tariff reductions of 1.4 million yuan for enterprises.
[Photo by Piao Feng for chinadaily.com.cn]
The RCEP agreement has also benefited importing enterprises.
Since Jan 1, the ratio of tariff-zero products imported from Japan has increased from 8 to 86 percent.
An imported raw material for the petrochemical industry -crude xylene - can apply for a 0.2-percentage-point reduction according to the tariff rates under the trade agreement.
This has helped importing enterprises cut production costs and adjust their supply chains more flexibly.
