"We will strive to build the Hainan Free Trade Port into an important gateway leading China's opening up in the new era, contributing to the sustained development of the Chinese economy as well as injecting stability and certainty into the world economy," said Yuan, assistant minister of commerce. ■
As a key initiative in China's opening-up strategy, the Hainan Free Trade Port is set to begin independent customs operations by year end, and global enterprises are eyeing the vast opportunities that come with open trade. [Photo/Xinhua]
With a zero-tariff system fundamentally in place after the independent customs operation, high-quality global resources can flow into Hainan with greater freedom and efficiency, Wu said. Trade liberalization and facilitation are defining features of a free trade port.
Eight ports will serve as first-tier entry points, allowing expedited clearance for qualified imports, while 10 second-tier ports will manage goods entering the mainland. Goods produced by encouraged industries in Hainan that achieve at least 30 percent value-added processing can enter the mainland tariff-free.
Certain goods currently banned or restricted nationwide will enjoy open policies in Hainan. Vice Minister of Finance Liao Min noted that the number of duty-free items in Hainan will increase
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The additional battery storage will help resolve intermittency issues associated with wind and solar power, which has caused low utilization rates despite their large capacity.
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As part of China''s strategic initiative to transform Hainan into a world-class free trade port, the government has released the 2024 Edition of the Catalogue of Encouraged Industries in Hainan
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"We will strive to build the Hainan Free Trade Port into an important gateway leading China''s opening up in the new era, contributing to the sustained development of the Chinese economy as well as
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These goods can circulate tax-free among eligible businesses within Hainan. Eight ports will serve as first-tier entry points, allowing expedited clearance for qualified imports, while 10 second
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This catalogue applies to enterprises engaged in production and operation within the Hainan Free Trade Port, with foreign-invested enterprises following the “Catalogue of Industries for
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The Ministry of Commerce will make more efforts to support Hainan in aligning with high-standard international economic and trade rules, enhancing institutional openness, and fostering new
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"We will strive to build the Hainan Free Trade Port into an important gateway leading China''s opening up in the new era, contributing to the sustained development of the Chinese
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In June 2020, China released a master plan to build the whole of Hainan Island into a globally influential and high-level free trade port by the middle of the century. Series of opening-up
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Off-grid type power storage cabinet in Hainan Free Trade Port Hainan Free Trade Port is a free trade port in, China. As an offshore island, Hainan is also the largest special economic zone in the (PRC).
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