- The special customs regime at Hainan Free Trade Port, launched December 18, aims to transform the island into a global hub for innovation and services.
- The move demonstrates China’s strong commitment to openness and is expected to boost foreign trade and investment in Hainan.
- Hainan’s large territory, proximity to major trading partners, and access to China’s vast market give it unique advantages over other hubs like Singapore and Dubai.
- The new regime expands the list of duty-free imports from 1,900 to 6,600 items, benefiting most enterprises and organizations on the island.
- The initiative is seen as a model of China’s openness and shared development amid global protectionist trends.
Source: tass.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "China"
- China Approves VAT Law Implementation, Set to Take Effect January 2026
- Hainan Launches Tariff-Free Customs Regime to Boost Trade and Strategic Economic Development
- China Launches Island-Wide Special Customs Zone in Hainan to Boost Free Trade
- Xi’an Tax Bureau and Police Crack Down on Major VAT Invoice Fraud by Yunsidi Tech
- Uncovering Fake Invoice Scams Behind Billions in Freight Fees on Online Logistics Platforms
