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This August marks the fourth anniversary of the implementation of the upgraded version of the ASEAN-China Free Trade Agreement.

In the past four years, Jiaxing companies have formed closer economic and trade exchanges with ASEAN countries, becoming an important force behind the city's economic growth.

"We use imported raw materials for most of our exports to ASEAN, such as glass fiber chopped strands. Before the agreement was upgraded, the process of determining the origin qualification of goods was relatively complicated, and some intermediate customers were not very cooperative in providing relevant information for reasons such as business protection," said Ye Wencong, an employee at Jushi Group Co Ltd. "The upgraded agreement added a more convenient rule for origin determination, which greatly improved our efficiency in applying for certificates of origin and met the needs of customers," added Ye.

According to statistics, from January to July, the company has applied to Jiaxing Customs for 388 upgraded China-ASEAN FTA certificates of origin for 70 million yuan ($9.6 million) worth of exports, resulting in 4.89 million yuan in tariff reductions.

From January to July, Jiaxing Customs issued a total of 18,000 China-ASEAN FTA certificates of origin for 7.97 billion yuan worth of goods, resulting in 620 million yuan in tariff reductions for companies that trade with ASEAN countries.