Major tariff exemptions for Nanyang foreign trade enterprises in H1

Dealing with a certificate of origin at the entry-exit inspection and quarantine bureau, in Nanyang, Henan province. [Photo/news.dahe.cn]

The entry-exit inspection and quarantine bureau of the city of Nanyang, Henan province has issued 1,222 certificates of origin that cut the tariffs of its foreign trade companies, in the first half of 2015, thanks to regional free trade agreements and partnerships that China has made with other countries.

The certificates covered $83.45 million worth of exports which qualified for $6.6 million worth of tariff exemptions on goods imported by 22 countries.

Nanyang got approval for the tariff certificates from China's General Administration of Quality Supervision, Inspection and Quarantine, for its local product exports for certain countries. The certificates also make customs clearances more convenient.

On a related note, an ASEAN-China Free Trade Area has a special Form-E certificate that affects 36.8 percent of the exports and a general system of preferences (GSP) Form-A covers 25.6 percent. The bulk of the companies covered by Form A export their goods to Italy, Russia, Japan and Turkey.

Nanyang's total exports for the first six months amounted to $1.45 billion, or 13.7 percent of the province's total and it has been trying to streamline the preferential certificate process to make it more efficient to push foreign trade.