Southeast Asia Information Port News (www.dnyxxg.com) November 18th – With only one month remaining until the Hainan Free Trade Port's island-wide customs closure operation, a press conference held that day by the General Administration of Customs of China revealed that preparations for the closure operation are essentially complete.
"The necessary hardware and software conditions for the closure operation are in place," said Gao Ruifeng, Director of Haikou Customs, at the conference. He pointed out that four customs closure support projects, including the International Travel Health Care Center, are all operational. Ten "second-line ports" have passed national inspection, and their regulatory facilities and equipment are ready for use. The customs intelligent supervision platform is online and running smoothly, meeting the customs supervision needs for the closure operation.
The General Administration of Customs and other departments attach great importance to serving and supporting the construction of the Hainan Free Trade Port, issuing a series of policy documents to accelerate the implementation and effectiveness of liberalization and facilitation measures. The press conference indicated that the policy effects will be further released after the closure operation.
For example, the tax collection and management methods for value-added processed goods exempt from tariffs after the customs closure have lowered the threshold for preferential treatment and expanded the scope of beneficiaries, better supporting relevant enterprises on the island to carry out processing and manufacturing, and facilitating the cultivation and development of industrial chains and clusters. Meanwhile, the Hainan Free Trade Port's policy of direct release of imported goods simplifies the import process for goods that are not subject to taxation, inspection, or certification, enabling rapid clearance at ports and promoting the free flow of factors such as goods, capital, and technology, which will help enhance the policy advantages for attracting investment.
The offshore duty-free policy is the "golden signboard" of the Hainan Free Trade Port. Starting November 1st, the new policy for offshore duty-free shopping in Hainan officially came into effect. The policy optimizations and adjustments include: adding two major categories and three subcategories of goods; including departing passengers in the scope of beneficiaries; allowing six categories of domestic goods to be sold in offshore duty-free shops; and allowing island residents to purchase "buy and pick up immediately" goods an unlimited number of times within one year when leaving the island.
Hua Zhenghong, Deputy Director of the Port Supervision Department of the General Administration of Customs, pointed out that these policy adjustments further meet the diversified shopping needs of passengers and will play a positive role in boosting domestic consumption and attracting inbound consumption. Judging from the effects of the new policy implemented half a month ago, the newly added electronic consumer products have been very popular, and shopping by departing travelers continues to heat up. From November 1st to 17th, customs supervised a total of 1.325 billion yuan in duty-free sales on Hainan Island, an increase of 28.52% year-on-year. (End)
