In the first eleven months of this year, Qingdao Customs District P.R. China, Jinan Customs District P.R. China, and China Council for the Promotion of International Trade (CCPIT) Shandong Sub-council issued a total of 137,000 RCEP certificates of origin, ranking first in China; the value of exports that enjoyed preferential policies under the RCEP hit 38.05 billion yuan, and the tariff concession of the importing countries exceeded 300 million yuan; Qingdao and Jinan customs authorities applied the preferential tax rate under the RCEP to 6.05 billion yuan worth of imports, with the tax concession reaching 310 million yuan.

According to the Qingdao customs authority, enterprises are more enthusiastic about using the RCEP policies as it becomes more convenient to enjoy preferential policies. In the five months from this July to this December, there had been a remarkable increase over the first half of this year in the value and batches of imports and exports that were entitled to preferential policies under the RCEP in Shandong Province. Next, Shandong's customs authorities will continue to strengthen cooperation with the CCPIT, commerce departments, and other allied organizations, optimize the administration of the origin of imported and exported goods under the RCEP, and solve the problems and constraints that hinder enterprises from enjoying preferential policies under the RCEP. By doing so, the province aims to actively help enterprises guarantee orders and expand the market, and ensure steady and high-quality growth in foreign trade.

Covering about 30% of the world's population, economic aggregate and foreign trade, the RCEP is the free trade agreement (FTA) with the largest number of participants, the most diverse membership structure, and the greatest development potential that China has signed so far.