A staff of Yiwu Customs releases a certificate of origin for exports. [Photo/Yiwu Media Center]

Yiwu Customs released a total of 142,278 certificates of origin of various types for goods worth $2.84 billion in the first seven months of the year, a year-on-year increase of 8.02 percent and 18.01 percent, respectively, according to official data from the bureau.

From January to July, Yiwu Customs issued 135,614 certificates of origin under the Regional Comprehensive Economic Partnership, with a value of $2.53 billion, up 11.76 percent and 18.15 percent year-on-year, respectively. These certificates of origin can receive an estimated 850 million yuan ($122.87 million) in tax reductions.

The RCEP, which came into force on Jan 1, 2022, comprises 15 Asia-Pacific countries including 10 ASEAN member states and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand.

Tariff reductions under the RCEP have made the company's products cheaper and benefited the negotiation of trade contracts with overseas customers, according to officials.

In order to help enterprises apply for certificates of origin more easily, Yiwu Customs promoted its online system which allows foreign trade companies to complete the entire process online and minimize the impact brought by the recent outbreak of COVID-19 in the city.

Data from Yiwu Customs showed that a total of 11,260 certificates of origin of various types have been issued since Aug 2, which can reduce tariffs by more than 90 million yuan for local enterprises.