The free trade agreement (FTA) between China and Serbia took effect on July 1st, as the first certificate of origin for exports to Serbia was issued by Pingxiang Customs in south China's Guangxi Zhuang Autonomous Region.
The certificated was issued for 384 boxes of fireworks from a company in Shangli county. With the certificate of origin, this consignment will enjoy a 2 percent tariff reduction when clearing customs in Serbia.
According to the deal signed in October 2023, approximately 90 percent of the products traded between China and Serbia will be exempted from tariffs, while over 60 percent of them will enjoy zero tariffs immediately after the FTA goes into effect.
The proportion of final zero-tariff items in import value will reach roughly 95 percent for both sides, broadly covering their main export products.
The FTA is expected to boost trade, offering consumers wider choices of imported goods at lower prices. It also encourages investment and industrial collaboration, allowing both countries to leverage their strengths for a stronger global presence.
.
China, Serbia slash tariffs as historic free trade deal takes effect
A land port in north China's Inner Mongolia Autonomous Region has seen vigorous trade with other countries and bustling border crossings as China intensifies its efforts in northward opening-up.
Inner Mongolia is an important hub for the China-Europe freight train service. Nearly half of China-Europe freight trains are handled by ports in the autonomous region.
The region's Erenhot port, the largest land port on the China-Mongolia border, is always bustling with trains, vehicles and travelers waiting to be cleared.
Since China uses the standard railway gauge, which is different from the broad railway gauge seen in Russia and Mongolia, the Erenhot port sees numerous containers being reloaded at its freight transit yards every day.
The port has also upgraded its software and hardware facilities to facilitate customs clearance.
"The digital system of the Erenhot railway port was put into operation in 2020, with functions like pre-translation of waybills, information registration and customs clearance. Cargo owners can check the handling progress through the Internet at home. At present, the port has enhanced the customs clearance efficiency for trains by over 70 percent," said Wu Shujun, a staff member at the railway port.
The number of China-Europe freight train trips made at the Erenhot port has increased from only two in 2013 to 3,294 in 2023, and the port is now operating 71 railway lines connecting to over ten other countries in Asia and Europe.
The port bears witness to an especially flourishing trade between China and Mongolia.
On one hand, the building materials and light industrial products shipped from the Erenhot port account more than 70 percent of the Mongolian market, and fresh fruits and vegetables exported from China claim nearly 80 percent of Mongolia's market.
On the other, bulk minerals such as coal and fluorite from Mongolia, as well as cooked beef and mutton, cashmere and horsehide, continue to be favored by Chinese customers.
Every day, a large trading market in Erenhot City is filled with Mongolian merchants who are attracted by quality Chinese products at reasonable prices.
"It is very convenient to purchase goods in Erenhot. The goods have complete varieties, with suitable prices and good quality," said Mongolian merchant Kuran.
"Mongolian merchants mainly purchase chargers, earphones and other products from us. Our daily turnover is around 5,000 yuan (about 688 U.S. dollars)," said Liu Jianjun, owner of an electronics store at the market.
"I come here today. I bought some washing machines and construction equipment. I plan to stay here for three days to study the prices and to see if there are other goods I want to buy," said a Mongolian merchant named Autergenziger.
Since the beginning of this year, a daily average of over 7,000 passenger trips have been made at the Erenhot port, with the maximum daily passenger flow surpassing 10,000 trips.
Land port in Inner Mongolia sees vigorous trade, bustling border crossings
