- Hainan Free Trade Port’s new customs regime enables large-scale duty-free imports, local processing, and re-exports, transforming supply-chain economics.
- The port accelerates Hainan’s development as a major international tourism and consumption center, expanding duty-free retail, hospitality, and healthcare services.
- Competitive 15% corporate and personal income tax rates, along with differentiated rules in sectors like healthcare, education, and internet access, position Hainan to compete with Hong Kong and Singapore.
- Firewall-free global internet access for approved entities fosters R&D collaboration and cross-border digital services, supporting innovation clusters.
- Opening to foreign universities aims to create a human capital hub, supporting advanced manufacturing, R&D, and professional services, with technology manufacturing and supply-chain operations expected to follow.
Source: chinadailyasia.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"
- No VAT Increase for Finance and Internet Sectors, Say Tax Experts Amid Rumors
- Rumors of VAT Rate Hike for Gaming and Finance Untrue, Experts Say
- China Issues New VAT Regulations and Thresholds Effective January 2026
- MOF and STA Announce VAT Input Tax Credit and Related Matters Effective 2026
- China Clarifies VAT Thresholds and Tax Administration Measures in New Announcement
