{"id":28514,"date":"2025-07-24T19:58:58","date_gmt":"2025-07-24T19:58:58","guid":{"rendered":"https:\/\/www.hotelsalepage.com\/feed\/cision-pr-newswire\/duty-free-product-categories-to-increase-thanks-to-hainan-ftp-independent-customs-operations\/"},"modified":"2025-07-24T19:58:58","modified_gmt":"2025-07-24T19:58:58","slug":"duty-free-product-categories-to-increase-thanks-to-hainan-ftp-independent-customs-operations","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=28514","title":{"rendered":"Duty-free product categories to increase thanks to Hainan FTP independent customs operations"},"content":{"rendered":"

HAIKOU, China<\/span><\/span>, July 24, 2025<\/span><\/span> \/PRNewswire\/ — A report from\u00a0Hainan International Media Center:<\/p>\n

South China’s<\/span> Hainan Free Trade Port (FTP) will officially begin island-wide independent customs operations on December 18, 2025<\/span>, with more products to be eligible for import under the FTP’s zero-tariff policy.<\/p>\n

\n

\"A<\/a>
A press conference on the development of the Hainan Free Trade Port was held by China\u2019s State Council Information Office on July 23.<\/span><\/p>\n<\/div>\n

The new customs closure system establishes an area under the independent supervision of customs authorities covering the entire island of Hainan<\/span>.<\/p>\n

Wang Changlin<\/span>, deputy head of the National Development and Reform Commission, said at a recent press conference held by the State Council Information Office that after independent customs operations begin, the proportion of “zero tariff” goods in the Hainan FTP will increase from 21% to 74%. Wang added that imported products undergoing at least 30% value-added processing in Hainan<\/span> will be eligible to enter the mainland tariff-free.<\/p>\n

Vice Minister of Finance Liao Min<\/span> noted that after island-wide independent customs operations begin, the number of duty-free eligible product categories in Hainan<\/span> will increase from about 1,900 to around 6,600. Those eligible to take advantage of the policy will also increase to include companies, public institutions, and private non-corporate entities in the FTP with import needs, added Liao.<\/p>\n

In April 2018<\/span>, China<\/span> announced the decision to develop Hainan<\/span> into a pilot free trade zone. In June 2020<\/span>, a master plan was unveiled to establish an initial FTP policy and institutional framework by 2025 and develop the province into a high level, globally influential FTP by 2050.<\/p>\n

\n

\"Aerial<\/a>
Aerial view of Haikou, capital of south China\u2019s Hainan Province.<\/span><\/p>\n<\/div>\n

Over the past five years, the actual utilization of foreign capital in Hainan<\/span> reached 102.5 billion yuan<\/span> ($14.35 billion<\/span>), with an average annual growth rate of 14.6%. A total of 8,098 new foreign-funded enterprises were established at an average annual growth rate of 43.7%. There have been 176 countries and regions that have invested in the FTP, and citizens of 85 countries are currently eligible for visa-free entry into Hainan<\/span>.<\/p>\n

Policy preparations for island-wide independent customs operations are already in place, said Feng Fei<\/span>, secretary of the CPC Hainan Provincial Committee. The Ministries of Commerce and Finance, together with other departments, have issued a set of measures and lists to safeguard the ongoing implementation of the FTP’s independent customs operations.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

<\/p>\n

HAIKOU, China<\/span><\/span>, July 24, 2025<\/span><\/span> \/PRNewswire\/ — A report from\u00a0Hainan International Media Center:<\/p>\n

South China’s<\/span> Hainan Free Trade Port (FTP) will officially begin island-wide independent customs operations on December 18, 2025<\/span>, with more products to be eligible for import under the FTP’s zero-tariff policy.<\/p>\n

\n

\"A<\/a>
A press conference on the development of the Hainan Free Trade Port was held by China\u2019s State Council Information Office on July 23.<\/span><\/p>\n<\/div>\n

The new customs closure system establishes an area under the independent supervision of customs authorities covering the entire island of Hainan<\/span>.<\/p>\n

Wang Changlin<\/span>, deputy head of the National Development and Reform Commission, said at a recent press conference held by the State Council Information Office that after independent customs operations begin, the proportion of “zero tariff” goods in the Hainan FTP will increase from 21% to 74%. Wang added that imported products undergoing at least 30% value-added processing in Hainan<\/span> will be eligible to enter the mainland tariff-free.<\/p>\n

Vice Minister of Finance Liao Min<\/span> noted that after island-wide independent customs operations begin, the number of duty-free eligible product categories in Hainan<\/span> will increase from about 1,900 to around 6,600. Those eligible to take advantage of the policy will also increase to include companies, public institutions, and private non-corporate entities in the FTP with import needs, added Liao.<\/p>\n

In April 2018<\/span>, China<\/span> announced the decision to develop Hainan<\/span> into a pilot free trade zone. In June 2020<\/span>, a master plan was unveiled to establish an initial FTP policy and institutional framework by 2025 and develop the province into a high level, globally influential FTP by 2050.<\/p>\n

\n

\"Aerial<\/a>
Aerial view of Haikou, capital of south China\u2019s Hainan Province.<\/span><\/p>\n<\/div>\n

Over the past five years, the actual utilization of foreign capital in Hainan<\/span> reached 102.5 billion yuan<\/span> ($14.35 billion<\/span>), with an average annual growth rate of 14.6%. A total of 8,098 new foreign-funded enterprises were established at an average annual growth rate of 43.7%. There have been 176 countries and regions that have invested in the FTP, and citizens of 85 countries are currently eligible for visa-free entry into Hainan<\/span>.<\/p>\n

Policy preparations for island-wide independent customs operations are already in place, said Feng Fei<\/span>, secretary of the CPC Hainan Provincial Committee. The Ministries of Commerce and Finance, together with other departments, have issued a set of measures and lists to safeguard the ongoing implementation of the FTP’s independent customs operations.<\/p>\n

<\/div>\n

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