Yuan Xiaoming, an official with the Ministry of Commerce, said that the ministry, together with relevant departments, has issued a list specifying goods and articles prohibited or restricted from import and export in the Hainan FTP.
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.
The proportion of tariff lines with zero-tariff products in the Hainan Free Trade Port will increase from 21 percent to 74 percent, Wang said, adding that imported products that undergo at least 30 percent value-added processing in Hainan can enter the mainland tariff-free.
The government will continue refining policies to enhance openness and build Hainan into China's premier gateway for global trade.
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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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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