News

'Paper gold' COs boost exports to Belt and Road countries

Sep 22, 2017

More than 5,000 certificates of origin (CO) were issued for products exported to Belt and Road countries in the first eight months of the year, a 15.37 percent year-on-year increase, Jinshan Entry-Exit Inspection and Quarantine Bureau reported.
 
The number accounted for 53.49 percent of all COs issued by the bureau and involved a total value of over US$200 million. Nearly US$10 million worth of tariffs were waived for enterprises using COs.

An important document giving preferential tariffs to goods exported under bilateral and multilateral agreements, the CO is considered "paper gold" for businesses wanting to expand markets.

The bureau has taken measures to boost exports by Jinshan enterprises, such as simplifying visa approval procedures, promoting paperless and online review reforms, and offering appointment services.

Major exported goods in Jinshan during the period included plastic products, home appliances, mechanical and electrical products, organic compounds, cocoa products, animal casing products, and glass products.