A food production line of Ningbo Hongwei Food. [Photo/Ningbo Hongwei Food]

Three years after the Regional Comprehensive Economic Partnership (RCEP) came into full effect in June 2023, the agreement has become a powerful driver of trade growth for businesses in Ningbo.

According to Ningbo Customs, from June 2023 to May 2026, the city issued 108,200 RCEP certificates of origin, covering goods worth 27.06 billion yuan ($3.97 billion). Major exports included textiles and garments, plastic products, and copper products.

The tariff reduction benefits under the RCEP have significantly boosted the competitiveness of local exporters.

Ningbo Chaotian International Trade, a garment exporter, has seen tariffs on its garment exports in several RCEP markets, which previously generally ranged from 9 to 15 percent, gradually fall below 5 percent, with some reaching zero. Since June 2023, the company has recorded nearly 495 million yuan in exports under RCEP preferences and saved almost 10 million yuan in tariffs.

The RCEP's unique "regional cumulation" rule has also helped companies optimize their supply chains. Ningbo Hongwei Food, which exports frozen fish and vegetable products, now sources ingredients more flexibly from RCEP member countries while still qualifying for tariff preferences. Since June 2023, the company has obtained 1,503 RCEP certificates covering exports worth 346 million yuan.

To help businesses maximize policy benefits, Ningbo Customs has streamlined certificate applications and established a comprehensive support system.

Today, 98 percent of RCEP certificates in the region can be printed independently, making trade facilitation faster and more accessible for exporters.