RCEP boosts Zhejiang's export performance

An aerial view of Ningbo-Zhoushan Port in Zhejiang province on Jan 4. [Photo/IC]

The Regional Comprehensive Economic Partnership has been in effect for three years, bringing substantial benefits to Zhejiang's export sector.

RCEP, the largest trade bloc in history, is a free trade agreement comprising 15 Asia-Pacific countries.

Over the three years, Hangzhou Customs issued 207,900 RCEP certificates of origin, covering goods worth 59.29 billion yuan ($8.09 billion).

An official with Hangzhou Customs noted that the number of RCEP certificates issued by Hangzhou Customs grew from 52,800 in 2022 to 84,600 in 2024.

By the end of 2024, nearly 4,000 companies had benefited from RCEP certificates issued by Hangzhou Customs, with traditional industries like textiles, plastics, and chemicals seeing significant gains.

"Zhejiang-based companies are making full use of RCEP. We continue to promote awareness and training on origin rules, tariff reductions, and other RCEP policies," a Hangzhou Customs official said.