YoY growth of 27.2%, Ningbo's imports and exports to Vietnam amounted to 7.52 billion yuan in the first two months

In recent years, China and Vietnam have strengthened their economic strategic alignment, deepened regional industrial chain coordination, and demonstrated strong resilience in two-way trade. According to Ningbo Customs statistics, Ningbo's imports and exports to Vietnam in January and February amounted to 7.52 billion yuan, an increase of 27.2% compared to the same period last year. Among them, exports amounted to 5.49 billion yuan, an increase of 24.1%, and imports amounted to 2.03 billion yuan, an increase of 36.3%.
Among imported products, natural and synthetic rubber (including latex) are one of the main imported products. As an important national automotive industry base, Ningbo has a strong automotive rubber parts industry, and its demand for high-quality rubber raw materials imported from Vietnam continues to rise. On April 10th, Ningbo Gaoxin Supply Chain Co., Ltd. declared to Haishu Customs, a subsidiary of Ningbo Customs, to import a batch of 210 tons of a mixture of natural rubber and synthetic rubber from Vietnam. Vietnam has a suitable tropical climate, mature cultivation and processing, and produces natural rubber with stable quality and high cost-effectiveness. It is an important raw material for the production of tires and other automotive parts, "said Chen, the company's customs manager. With the preferential policies of the China ASEAN Free Trade Agreement, this imported goods enjoy zero tariff treatment, reducing tariffs by more than 230000 yuan.
In recent years, Ningbo has continuously strengthened the supply chain security of the auto parts industry, forming a complete chain of "Vietnam imported rubber - local auto parts manufacturing - auto exports to ASEAN", fully reflecting the complementary and coordinated development of the Chinese and Vietnamese industries. In January and February, Ningbo imported natural and synthetic rubber (including latex) from Vietnam for 540 million yuan, an increase of 27.5%.
While high-quality raw materials are smoothly imported, Ningbo's local characteristic light industrial products are steadily entering the Vietnamese market through preferential policies. On April 3rd, Zhejiang Xinjing Import and Export Co., Ltd. exported a batch of fabric drawers worth 167000 yuan to Vietnam. Enterprises can enjoy zero tariff clearance treatment with the certificate of origin issued by the China ASEAN Free Trade Area. This certificate of origin is the 'golden key' for us to explore the Southeast Asian market. The product tariff has been directly reduced from 37.5% to zero, and the cost advantage is very prominent, "said the person in charge of the enterprise's foreign trade business.
In order to assist enterprises in expanding their markets, the customs continuously updates the preferential treatment guidelines, promotes the China Customs preferential origin service platform in the "China International Trade Single Window", and carries out policy promotion and special guidance in a hierarchical and classified manner. We apply the 'Pro Qing Direct Train · Enterprise Needs and Customs Response' mechanism to assist enterprise development, actively promote the special action of cross-border trade facilitation, proactively solve the urgent and difficult problems of enterprises, encourage enterprises to accelerate the development of diversified international markets, steadily promote the 'one enterprise, one policy' and 'one product, one policy' benefit sharing schemes, and continuously expand the benefit sharing effect, "said the relevant person in charge of Haishu Customs.
In the first quarter, Ningbo Customs issued a total of 7225 certificates of origin for the Vietnam Free Trade Agreement, involving goods worth 2.28 billion yuan, an increase of 28.0% and 28.4% respectively.