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The impact of the cancellation of the policy of universal benefits on China’s exports

Views: 0     Author: Site Editor     Publish Time: 2021-12-20      Origin: Site


The General Administration of Customs of the People’s Republic of China issued a press release recently pointing out that, according to the “Administrative measures on the issuance of certificates of origin under the generalized system of Preferences”,GSP certificate of origin will no longer be issued for exports to the EU, the UK and many other places from December.It should be noted in particular that this was a cancellation of GSP and not MFN certificates.

Generalized System of Preferences (GSP) , is a general, non-discriminatory, non-reciprocal tariff preference System granted by developed countries (preference-giving countries) to developing countries and regions (preference-receiving countries) for their exports of manufactures and semi-manufactures.

The 40 countries that have granted GSP tariff preferences to China are the countries below,27EU countries including French, Italy, Netherlands,Germany,Luxembourg,Belgium,Denmark,Ireland,Greece,Portugal,Spain,Sweden,Finland,Austria,Poland,CzechRepublic,Slovakia,Hungary,Malta,Slovenia,Lithuania, Latvia, Estonia, Cyprus, Bulgaria, Romania and Croatia,British,3 countries of the Eurasian Economic Union,Russia,Belarus and Kazakhstan, turkey, Ukraine, Canada, Switzerland,Liechtenstein,Japan,Norway,New Zealand and Australia.

At present, Norway, New Zealand and Australia Still Grant GSP treatment to China’s export commodities.

In fact, as early as 2021, some preference-giving countries have stopped the relevant preferential policies, such as table

Countries and territories that have granted GSP treatment to our country

Whether the GSP treatment for our country has been abolished

Cancellation time







July 1,2014



July 1,2014

The two are a customs union

European Union、England、Turkey


Jan 1,2015

Britain was still a member of European Union,Turkey is a customs ally of the European Union



April 1,2019



Oct 12,2021

All three are members of the Eurasian Economic Union



New Zealand




Of course, short-term impact, but for the European and American markets, general tax costs increased 3-5% , which undoubtedly increased the cost of imported goods from China, but in terms of product choice,products made in China are still the best bet

For the import of lithium batteries, China’s exports of lithium batteries accounted for 70% of the world, the advanced technology of lithium batteries in the world is far ahead, for the impact of policy changes, yes ,but not very much.

America,for example

It is clear from the US customs tariff network that after the policy, each lithium battery unit price increases 3.5% , but the recent US interest rate fluctuations against the RMB, even if the tax rate increases, according to the exchange rate difference. For the end of the battery sales, the impact is not big. Chinese batteries are still the best bet.

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