According to the statistics of Yinchuan Customs, from January to October this year, the total import and export value of Ningxia and member countries of the Regional Comprehensive Economic Partnership (RCEP) was 5.69 billion yuan(about $807 million), with a year-on-year growth of 23.01%, accounting for 26.58% of the total value in the same period. In this same data, the export was 4.29 billion yuan, with a year-on-year increase of 25.8%, accounting for 25.68% of the total import and export value of Ningxia. Imports reached 1.40 billion yuan, with a year-on-year increase of 15.14%, accounting for 29.78% of the total.
From January to October this year, the value of import and export goods enjoying benefits under Ningxia RCEP projects have reached 723 million yuan, and the import and export enterprises have enjoyed more than 21 million yuan of RCEP tariff preferences. It can be said that the high-quality implementation of RCEP projects has become a "stabilizer" for the sustainable growth of Ningxia's foreign trade.
"Our company used to pay tariff at the rate of 5% when importing synthetic quartz sand from Japan. But now, as long as the declaration is accompanied by the RCEP certificate of the source area issued by Japan, we can enjoy the 'zero tariff' policy, which is expected to save nearly one million yuan annually. The RCEP tariff reduction policy has brought us real benefits," said Ma Chao, the staff of the procurement and logistics department of SiFusion Co Ltd.
In combination with the management of local taxpayers, Xingqing Customs, which is under Yinchuan Customs, has implemented the professional policy guidance for key enterprises such as SiFusion, and carried out "one-to-one" special operation guidance. SiFusion has taken advantage of the RCEP tariff reduction policy to enjoy preferential treatment in China. Since August this year, SiFusion has declared to the customs 7,895,700 yuan of synthetic quartz sand imported, enjoying tariff preference of nearly 400,000 yuan.
In order to further expand the coverage of the RCEP’s benefits, Yinchuan Custom has been educating enterprises to make full use for the RCEP policy through online and offline training sessions. Over 200 enterprises and 1,000 people have participated in the training.
From January to October, Yinchuan Custom has granted 535 RCEP certificates of source area for 42 enterprises, with the total commodities’ value of 657 million yuan, covering silicon carbide, artificial graphite, activated carbon, and monocrystalline silicon bar, etc. These products are mainly exported to Japan, South Korea, Thailand, Singapore and Vietnam. Based on the average tariff preference of 3%, the export products are expected to enjoy the tariff preference of the target country of over 19 million yuan.
On the other hand, Yinchuan Custom has established a mechanism to collect the problems that hinder enterprises from enjoying the related policies, taken the initiative to understand enterprises' application of RCEP policies through various ways.
At the same time, Yinchuan Custom has optimized the visa process, and continued to promote the "intelligent examination + self-service printing" export visa service, so as to help enterprises save more time and provide high-quality service. From January to October, the amount of self-service printing visa was worth 3.2 billion yuan; the intelligent examination rate of the certificate remained above 80% of the total.
