Certificate of Origin boosts Quzhou foreign trade

Quzhou Customs has issued 1,400 Certificates of Origin (C/O) this year, offering $4.5 million worth of tariff preference to local companies, local media reported on March 10.

Among them, 887 C/O were issued for countries and regions along the Belt and Road route, taking up 63.3 percent of the total issuances and up by 16.4 percent year-on-year.

A Certificate of Origin is a document required by foreign governments that validates the country of origin of where the product was manufactured. Its holders can enjoy tariff reduction and exemption in countries and regions that have signed free trade agreements.

In recent years, China has signed and practiced 15 free trade agreements with 22 B&R countries and regions.

Along with the further development of the Belt and Road Initiative, C/O is playing an increasingly more important role in foreign trade.

Quzhou Customs adopted measures to help local companies obtain the certificate more easily, including automatic document examination, on-the-spot service and canceling annual verification.