Southeast Asia Information Port News (www.dnyxxg.com) – Following the official launch of the Hainan Free Trade Port's island-wide customs closure in its first week, Haikou Customs statistics show that from December 18th to 24th, Haikou Customs supervised over 400 million yuan worth of imported goods enjoying zero tariffs at the "first line" (border e-commerce) and over 20 million yuan worth of domestically sold processing and value-added duty-free goods at the "second line" (border e-commerce). In the first week of the closure, Hainan saw 1,972 new foreign trade enterprises registered, a 2.3-fold increase year-on-year. To date, over 30,000 new customs declaration units have been registered throughout the year, representing a year-on-year increase of over 40%.
The combined effect of policies and the "tailwind" of the Hainan Free Trade Port's closure has also brought a surge to Hainan's offshore duty-free consumption market. From December 18th to 24th, Hainan's offshore duty-free shopping reached 1.1 billion yuan, with 165,000 shoppers and 775,000 items purchased, representing year-on-year increases of 54.9%, 34.1%, and 11.8% respectively, fully demonstrating the stimulating effect of the closure on the consumer market.
