The tariff rate on a batch of porcelain utensils worth 300,000 yuan (US$44,800) exported to Serbia by a Shenzhen company will be reduced from 20% to 18% following the issuance of a certificate of origin by the China Council for the Promotion of International Trade Shenzhen Municipal Committee (CCPIT Shenzhen).

An employee of CCPIT Shenzhen works with a customer at the service center. Courtesy of CCPIT Shenzhen

　　On Thursday, CCPIT Shenzhen signed the certificate under the China-Serbia Regional Comprehensive Economic Partnership (RCEP) agreement for Shenzhen Fengdaxin Porcelain Co. Ltd., marking the first certificate of origin issued in Guangdong Province under the China-Serbia RCEP agreement.

　　The China-Serbia RCEP agreement has been effective since July 1. Serbia is the first country in Central and Eastern Europe to sign a free trade agreement with China. A total of 22 countries have signed RCEP agreements.

　　More than 60% of items have benefited from tax exemptions since the agreement came into effect, and the exemption will expand to 90% of items. Tariffs will gradually be cut from the current 5%-20% to 0% when China-made vehicles, photovoltaic modules, lithium batteries, and porcelain enter Serbia.

　　A representative from the company said that Serbia is one of the most important export markets for the company, and porcelain utensils are its main export products. The RCEP agreement will create a larger market for the company.