China’s Trade Promotion System Sees Surge in Certificate Issuance, Reflecting RobustForeign Trade Growth
BEIJING, Aug. 30,2024 – China’s trade promotion system witnessed a significant surge in certificate issuance during July, indicating a robust and steady growth in the country’s foreign trade, according to the China Council for the Promotion of International Trade (CCPIT).
At a press conference held on August 30th,Wang Linjie, spokesperson for CCPIT, announced that the system issued a total of 669,300 certificates in July, including certificates of origin, ATA Carnets, and commercial certificates. This represents a year-on-year increase of 22.54%, highlighting the positive trajectory of China’s foreign trade performance.
The data reveals a strong performance across various categories of certificates. Non-preferential certificates of origin issued by the CCPIT system reached a total value of $33.324 billion, marking a 4.16% increase compared to the same period last year. The number of certificates issued also saw a notable rise, reaching 405,600, indicating a 12.81% year-on-year growth.
Similarly, preferential certificates of origin witnessed a significant surge, with a total value of $6.767 billion, representing a 15.01% increase compared to the previous year. The number of certificates issued in this category reached 195,800,reflecting a remarkable 26.62% year-on-year growth.
The Regional Comprehensive Economic Partnership (RCEP) continues to play a crucial role in boosting China’s foreign trade. The CCPIT system issued 21,823 RCEP certificates of origin in July, marking an18.98% increase compared to the previous year. These certificates were utilized for exports to 11 RCEP member countries, including Japan, Indonesia, South Korea, and Vietnam, demonstrating the growing utilization of the free trade agreement by Chinese companies.
To further facilitate trade and streamline business processes, the CCPIT has established a green channel service for commercial certification. This initiative, supported by the Ministry of Foreign Affairs, aims to expedite the processing of certificates for companies seeking to expand into overseas markets or undertake overseas projects. In July, the green channel facilitated the processing of applications from eight companies, covering countries like Algeria andVietnam. This service has been instrumental in saving businesses an average of nine days in processing time.
The robust performance of China’s trade promotion system and the surge in certificate issuance are indicative of the country’s commitment to fostering a conducive environment for foreign trade. The green channel service, along with the increasingutilization of RCEP, further underscores China’s efforts to enhance trade facilitation and support businesses in expanding their global reach.
This positive trend in foreign trade is expected to continue, driven by China’s commitment to opening up its economy and its participation in global trade agreements. The CCPIT remains dedicated to providing comprehensive supportto businesses, facilitating trade, and promoting economic growth.
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