New changes to Hong Kong’s CEPA agreement on trade in goods

        On 8 December 2021, the General Administration of Customs issued Notice No. 102 2021, announcing that the revised rules of origin under Hong Kong’s CEPA will come into force on 1 January 2022. Want to know what are the specific new changes? Follow xiaobian together to stamp the picture, there is a picture of the truth oh.

  Hong Kong CEPA Agreement on Trade in Goods

        Hong Kong’s CEPA (Mainland and Hong Kong Closer Economic Partnership Arrangement) was signed by the Central Government and the Hksar Government in 2003 and came into force on 1 January 2004. Hong Kong CEPA is a free trade agreement signed between China’s national main body and Hong Kong’s separate customs territory. The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Goods (HEREINAFTER referred to as the Agreement on Trade in Goods) is an important part of the upgrading of Hong Kong’s CEPA and will come into force on 1 January 2019. After the implementation of the CEPA, the range of products under the reduced tax has been expanding. In 2004, the reduced tax products under the CEPA only contained 374 8-digit tax numbers, and in 2021, it has expanded to 7638 8-digit tax numbers, accounting for 89% of the total number of 8-digit tax numbers in 2021. Moreover, the import of these tax numbers can enjoy zero tariff!

  What are the characteristics of trade agreements in goods

        Agreement on trade in goods to the Hong Kong CEPA rules of origin of the original modified, the modified rules of origin used “whole product origin tariff standard + product specific rules of origin” the mode of combining the calculation of the AD valorem percentage, AD valorem percentage specific scale, and changes in tariff classification standard ein level set methods have done adjust, With strong flexibility, it has improved the pertinence of Hong Kong export products and targeted to meet the needs of Hong Kong industry.

  Changes since the implementation of the Trade in Goods Agreement

        Under the AGREEMENT on Trade in Goods, the two sides set up a working group on rules of origin, which will consult on the rules of origin for zero-tariff goods every year and publish them after reaching agreement. This makes the rules of origin in the agreement on trade in goods more flexible. The following is a summary of the revisions to the rules of origin since the implementation of the Trade in Goods Agreement in 2019:

Announcement of the approval document Coordination System

coding

Name of commodity Original Origin Criteria Revised origin criteria
General Administration of Customs Announcement no. 167 2710.19 Other petroleum and oils derived from bituminous minerals (other than crude oil) and other tax-free products based on such oils (not less than 70% by weight), excluding biodiesel, except waste oil (1) Chemical treatment of industrial oil. The main manufacturing process is petroleum refining, including the removal of impurities, dehydration and mixing of other additives; Or (2) change from other items. (1) Chemical treatment of industrial oil. The main manufacturing process is petroleum refining, including the removal of impurities, dehydration and mixing of other additives; Or (2) from other items; Or (3) 40% by button-down subtraction or 30% by summation.
Notice of the General Administration of Customs no.76 [2020] 3908.10 Polyamide in primary form

-6、-11、-12、-6,6、-6,9、-6,10 or -6,12

Change from other items to this point. (1) Change from other items to this point; Or (2) area value component 40 per cent by button-down subtraction or 30 per cent by summation.

 

  The goods trade agreement this new change

        Following this announcement, the Hong Kong CEPA has revised the ORIGIN criteria under tariff code 56.03.

Coordination System

coding

Name of commodity Original Origin Criteria Revised origin criteria
56.03 Nonwoven, whether impregnated, coated, coated or laminated Change from other items to this point. (1) Change from other items to this point; Or (2) area value component 40 per cent by button-down subtraction or 30 per cent by summation.

        Through this revision, the original origin standard is revised from a single standard to an optional or optional standard, which lowers the threshold for commodities under 56.03 to obtain Hong Kong origin qualification. The operation is more flexible and more in line with the objective reality of diversified development of relevant industries. Here, xiaobian reminds the majority of mainland enterprises, if the goods imported from Hong Kong are located in the scope of Hong Kong CEPA tariff reduction products, but also in line with Hong Kong CEPA standards of origin, must remember to apply for CEPA certificate of origin to license-issuing organs, so as to enjoy zero tariff treatment when importing! In addition, the mainland and Hong Kong have now realized the electronic network of origin information, real-time transmission of co (CEPA) electronic data, the import of Hong Kong CEPA goods customs procedures more convenient and efficient!!

Article source:The General Administration of Customs

Copyright Fujian Quanzhou Zhongtai IMP.And EXP.CO.,LTD
Fujian Quanzhiu Zhongtai IMP. AND EXP. CO., LTD. » New changes to Hong Kong’s CEPA agreement on trade in goods

Leave a Reply

正和港综合服务平台 - Zhenghe Port Integrated Service Platform

正和港 正和港渠道