Editor’s Note
The early implementation of key policies like “zero tariffs” is already boosting confidence in the Hainan Free Trade Port, signaling strong initial momentum for its development.
He Bin, Director of the Free Trade Zone and Special Area Development Department and Second-Level Inspector of Haikou Customs, stated on the 19th that in the first month since the customs closure of the Hainan Free Trade Port (FTP), policies such as “zero tariffs,” duty exemption on value-added processing, and relaxed trade management measures have been fully implemented. The policy dividends of the FTP have been continuously released, significantly enhancing its attractiveness for openness.
According to customs disclosures, in the first month post-closure, Hainan has approved 10,038 entities eligible for “zero-tariff” benefits and registered 112 enterprises for duty exemption on value-added processing. Additionally, 5,132 new foreign trade enterprises completed customs registration, including 113 foreign-invested enterprises, bringing the total number of registered foreign trade enterprises to a historic high of over 100,000. Preliminary statistics indicate that Hainan’s total import and export value exceeded 27 billion yuan.
Regarding the expansion and efficiency gains of the “zero-tariff” policy, 30 beneficiary entities in Hainan imported “zero-tariff” goods worth 750 million yuan, covering 37 tariff line items. Among these, general “zero-tariff” goods imports amounted to 714 million yuan, primarily consisting of bulk commodities such as crude oil and mineral products. “Zero-tariff” production equipment imports reached 38.374 million yuan, mainly comprising scientific research equipment and medical devices. Eight newly added beneficiary entities made their first imports, involving 8 tariff line items with a total value exceeding 200 million yuan.
In terms of applying the duty exemption policy on value-added processing, 30 enterprises in Hainan sold duty-exempt processed goods worth 85.867 million yuan for domestic sales outside the island, exempting 3.318 million yuan in import tariffs. These goods mainly included chemical products, medical devices, pharmaceuticals, food, and jewelry. After the customs closure, all new business scenarios for the duty exemption on value-added processing policy have been implemented. The inclusion of “value of Hainan-produced goods in the value-added portion” has effectively integrated local products like coconuts and sea salt into the industrial chain of “overseas raw materials – Hainan processing – domestic sales.” The policy of “cumulative value-added processing outside special customs supervision areas” has further extended and strengthened the petrochemical and new materials industry chain.
Furthermore, Hainan FTP has achieved breakthroughs in relaxing trade management measures, with imports of “both ends abroad” bonded maintenance goods valued at 347,000 yuan. The popularity of duty-free shopping for island departures has surged, with customs supervising duty-free shopping amounting to 4.86 billion yuan in the first month post-closure, a month-on-month increase of 95.2%, demonstrating strong consumption potential.
