On January 1st, the first day of the Regional Comprehensive Economic Partnership Agreement (RCEP) formally came into effect, XCMG ushered in a good start for exports. XCMG Import and Export Co., Ltd. passed the Nanjing Customs audit and became the first batch of approved exporters in China after the implementation of RCEP, and immediately issued the country’s first declaration of origin under RCEP for a concrete mixer that will be exported to Thailand.

It is understood that the effective implementation of RCEP marks the official landing of a free trade zone with the largest population, the largest economic and trade scale, and the most potential for development in the world. On November 15, 2020, it was signed jointly by China and the 10 ASEAN countries, Japan, South Korea, Australia, and New Zealand. It came into effect on January 1, 2022. After the effective implementation, more than 90% of the goods trade in the region will eventually achieve zero tariffs. It will bring many development opportunities for the development of Chinese foreign trade enterprises.

In 2021, XCMG has seized opportunities for overseas trade development, with both production and sales booming, and orders continued. Before the implementation of the RCEP agreement, XCMG have been in close contact with Xuzhou Customs and actively invited relevant business experts to discuss how to make full use of the advantages of RCEP at both ends of production and sales, and implement it on the ground. In addition, overseas XCMG actively grabs orders, and the domestic team cooperates closely to form a synchronous linkage mechanism at home and abroad. Finally, after the implementation of the RCEP agreement on the first day of 2022, XCMG’s first export start has been achieved in XCMG.

Liu Jiansen, Vice President of XCMG Machinery and General Manager of Import and Export Company, said: “After the implementation of the RCEP agreement, the company’s export of construction machinery and parts can enjoy more preferential tariffs. XCMG is a pioneer in the export of China’s construction machinery industry. The total amount exceeds RMB 10 billion. With the formal implementation of the agreement, the agreed tax rates of various products exported by XCMG will decrease year by year. In the future, it will save more taxes for enterprises and bring tangible benefits to enterprises.”

According to the relevant person in charge of Xuzhou Customs, the prerequisite for import and export enterprises to achieve tax reduction and zero tariffs is that the products comply with the RCEP rules of origin, and declare and enjoy relevant agreed tax rates in accordance with the customs requirements of the importing party. At present, most trade agreements require the customs to obtain a certificate of origin.

The biggest highlight of RCEP is the implementation of approved exporters facilitation measures, that is, exporters who have been approved by the customs and filed can issue certificates of origin for the goods themselves and enjoy preferential tariff treatment. This system will further reduce the export management costs of enterprises and improve the convenience of customs clearance.

XCMG is a leading construction machinery company in China and an AEO certified enterprise by the customs. In recent years, XCMG has accelerated its international development and industrial layout, and currently ranks third in the world’s leading position. Various products such as hoisting machinery, excavating machinery, loading machinery have been exported to 187 countries and regions around the world, with brand awareness and market The market share is increasing year by year.