It's Happening....
First preferential certificate of origin issued
- Details
- Category: Governmental News
- Published: Tuesday, 08 July 2014 09:33
The preferential certificate of origin for the China-Switzerland Free Trade Zone has been issued from July 1. On the day, Hengsheng Trade Co. Ltd. from Ningbo Bonded Zone received the first batch of preferential certificate of origin in Ningbo for the China-Switzerland FTZ. "We applied for 14 preferential certificates of origin for CSFTZ. Suppose that each certificate enables us to get a 5% reduction, we can directly save US$11133.9 in customs duty." said a related person form the company.
From July 1 on, 99.7% of products exported to Switzerland from China will enjoy zero tariff with the declaration or certificate of origin for CSFTZ. The products with largest tariff reduction include textile products, clothes, shoes and hats, auto parts and metal products, all being major products for export by Ningbo. On the first day of the issuing, the certificate was well received. By 12 o'clock, the Shipping Center Office had received 30 applications from enterprises, involving a total export volume of US$655761.23.
