Xianhe Holding Group obtained the Regional Comprehensive Economic Partnership (RCEP) certificate of origin on March 4 for a batch of sublimation transfer papers worth 196,000 yuan ($28,328) exported to Indonesia. It was the first such certificate of origin to be issued in Quzhou, East China's Zhejiang province.

With the RCEP certificate of origin, the company is expected to enjoy nearly 10,000 yuan in tariff reductions at Indonesia's customs.

In the past, the company had to pay a 5-percent tariff on its exports to Indonesia. When the RCEP went into effect, it reduced tariffs for the company and greatly increased the competitiveness of its products on the market.

In 2022, the company exported a total of about 5 million yuan in various types of paper to Indonesia, and its sales are expected to increase by 30 percent this year.

The RCEP agreement took effect in Indonesia on Jan 2. Under the RCEP, and on the basis of the China-ASEAN Free Trade Agreement, Indonesia has granted zero-tariff treatment to over 700 additional products with tariff numbers, including auto parts, chemicals and plastic products.

Indonesia is one of the main export destinations of Quzhou. In 2022, Quzhou enterprises' exports to Indonesia totaled 1.18 billion yuan. The implementation of the RCEP in Indonesia will further boost the export growth of related products in the city.