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Hainan FTP off to a good start, sees imports and arrivals soaring

Hainan Free Trade Port reported that imports and exports at local customs ports grew 9 percent year-on-year nearly three months after the special customs operations began on Dec 18.
Policy changes broadened zero-tariff coverage and access, raising imported goods eligible for zero tariffs from 21 percent to 74 percent while expanding visa-free entry and multi-function free trade accounts.
During the nine-day Spring Festival, Hainan recorded nearly 48.6 million yuan in zero-tariff imports, saving 9.42 million yuan in duties, with offshore duty-free sales rising 30.8 percent and shoppers up 35.4 percent.
The province reported that the number of new foreign-invested enterprises grew 45.6 percent, with companies including Siemens Energy, Mayoly, and Fullerton Health Group establishing operations amid investment from 180 countries and 41 global free trade zones.
Officials aim to align with RCEP and develop sectors including the marine industry targeting 48.6 million yuan of imports this year, as Liu said, 'We will actively integrate into and serve the unified national market'.

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Hainan FTP off to a good start, sees imports and arrivals soaring

Nearly three months after the launch of island-wide special customs operations, Hainan Free Trade Port is witnessing surging foreign investment, duty-free imports and visa-free arrivals, said Liu Xiaoming, the governor of southern China's Hainan province.

3 days ago·China

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