China’s trade is on the rise! In the first quarter of this year, the Chinese mainland’s national trade promotion system issued a whopping 1.78 million commercial certificates. That’s a significant year-on-year increase of 14.91%!
What’s driving this growth? Preferential certificates of origin saw a massive boost. Over 621,700 of these certificates were issued, marking a staggering 42.67% jump from last year. These certificates help businesses enjoy lower tariffs and smoother access to international markets.
Certificates issued under the Regional Comprehensive Economic Partnership (RCEP) also saw impressive growth. The RCEP certificates totaled over 69,000, up 27.03% year-on-year. As the world’s largest free trade agreement, RCEP is opening doors for Chinese enterprises across Asia and beyond.
“Despite the challenging global environment for exports, Chinese foreign trade enterprises are leveraging free trade agreements like the RCEP to explore new markets,” said Zhao Ping, spokesperson for the China Council for the Promotion of International Trade. “This expansion not only benefits China but also strengthens economic and trade cooperation with all parties involved.”
For young entrepreneurs and businesses in the Global South, this is exciting news. The growth in trade certificates means more opportunities for partnerships, innovation, and economic development on a global scale.
