China Propels Construction of Hainan Free Trade Port
Click:316    DateTime:Jun.22,2020

China recently issued an overall plan to construct Hainan Free Trade Port, where goods outside the list of imported taxable commodities will be duty-free.

Before the island-wide customs clearance operation in 2025, the port will make a negative list (regarding equipment firms import for self use) and three positive lists involving traffic tools, raw/auxiliary materials (for firms’ self use or processing activities) and goods consumed by local residents. Goods not in the negative list and in the three positive lists will all be exempted from import duties.

While raising annual duty-free shopping limit from RMB30 000 per person to RMB100 000 per person, Hainan will expand scope of duty-free goods (current including 38 varieties) and take measures to facilitate shopping.