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"Paper gold" reduces tariffs on Jingzhou's export enterprises by 69 million U.S. dollars from January to July
Updated: 2019-09-20 10:26:41

According to a source from Jingzhou Customs, thecustoms issued 3,140 certificates of origin (C/O) from January to July 2019,with a total signed amount of over 343 million U.S. dollars, reducing importingcountries' tariffs on export enterprises by some 69 million U.S. dollars.

C/O is a document issued by the exportingcountry's specific institution to certify that the country (region) is theorigin of certain enterprises' export goods. It is known as a "goldenkey" to tariff preferences, fast customs clearance and smooth settlementof exchange in importing countries, as well as "paper gold" ininternational trade. With the conclusion of free trade agreements between Chinaand 23 foreign countries or regions in recent years, more and more exportproducts have obtained C/O to enjoy tariff preferences in importing countries.

Though C/O cannot bring export enterprisesdirect benefits, it can reduce tariffs on foreign customers, and effectivelyhelp foreign trade enterprises stabilize customers and develop emergingmarkets. To further exert the role of C/O in promoting foreign trade, on thebasis of helping enterprises better enjoy C/O preference, Jingzhou Customs has strengthenedpublicity through various channels, and guided enterprises in making good useof C/O preference to fully enjoy the benefit of tariff reduction and exemptionfrom C/O, thereby helping Jingzhou's enterprises go global.

Jingzhou Customs started to comprehensively promotethe self-service printing function of 15 types of C/O from May 20, 2019, ofwhich 12 types cover the export business of Jingzhou's foreign trade enterprises.C/O applicants or agents filed with the customs may independently print formattedC/O approved by the customs through China International Trade “Single Window”or "Internet + Customs" Integrated Online Service Platform. Withoutthe limits of time and place, self-service printing finishes the "lastmile" for electronic processing of C/O business.


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