First provincial RCEP enterprise service center in NW China launched

The RCEP Enterprise Service Center of China (Shaanxi) Pilot Free Trade Zone (FTZ) was unveiled on May 31 in the Airport New City of Xixian New Area, which is a new national area built by the cities of Xi'an and Xianyang in Northwest China's Shaanxi province.

It officially launched the first provincial RCEP enterprise service center in Northwest China.

RCEP, short for Regional Comprehensive Economic Partnership, took effect on Jan 1, 2022, and is the world's most significant free trade agreement.

RCEP member countries are Shaanxi's largest trading partners, major overseas markets, and sources of foreign investment.

In 2022, the total import and export value between Shaanxi and RCEP member countries was 190.28 billion yuan ($26.83 billion), accounting for 39.4 percent of the province's total.

On May 12, during the trial operation of the center, the first RCEP certificate of origin was issued for a batch of graphite recarburizers exported to Japan by Xi'an Rongsheng Gaoke New Materials Co.

With this certificate of origin, the tariff rate paid after the goods arrive in Japan can be reduced from 15 percent to zero, and the tariff cost in Japan can be reduced by 600,000 yuan per year.

The center sets up 10 service windows, providing enterprises with more services such as policy interpretation, professional training, and information guidance.

Also, on that day, the first batch of foreign trade enterprises and service agencies in the center was signed and settled in the center.