Hainan Free Trade Port enhances duty-free services, zero tariffs

Hainan Free Trade Port will begin independent customs operations this year and further upgrade its preferential tax policies, a national lawmaker said on the sidelines of the ongoing two sessions on Saturday.

Cai Qiang, a deputy to the 14th National People's Congress and deputy director of the office of the Hainan Free Trade Port Working Committee, said that the tax system tailored to the Hainan Free Trade Port is taking shape.

Regarding 'zero tariffs', Cai explained that three lists covering raw and auxiliary materials, production equipment, and vehicles and yachts have already been introduced, said Cai.

He added that after the port's independent customs operations, the variety of goods eligible for 'zero tariffs' will expand significantly.

Cai also mentioned that Hainan Free Trade Port has enhanced its offshore duty-free services by introducing options for direct purchase and pick-up, as well as credit-guaranteed pick-up methods. Products eligible for these methods can now be bought and collected directly from the duty-free stores.

Additionally, visitors can use these products during their stay in Hainan, a change from the previous policy, where goods were only available for pick-up upon leaving the island, he added.