Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Feb. 5 (Xinhua) — China on Thursday imposed zero tariffs on certain imported goods destined for consumption by residents of the Hainan Free Trade Port (HFTP).
The policy, which took effect on the same day, was announced in a joint statement by the Ministry of Finance, the General Administration of Customs and the General Administration of Taxation.
The policy stipulates that import duties, as well as value-added tax and consumption tax, levied both at the import stage and in the domestic market, will not apply to eligible goods purchased by Hainan PST residents from designated retail stores.
Residents of the Hainan PST include Chinese citizens who hold an identity card, residence permit or social security card in Hainan, as well as foreign citizens who work and live in Hainan and hold a residence permit.
Each eligible individual is granted an annual duty-free shopping quota of 10,000 yuan (approximately $1,437.4 USD), with no limit on the number of purchases. This policy applies to essential items, including certain food and beverages, household chemicals, and other household items.
According to the statement, this policy is aimed at promoting the construction of the Hainan PST and enhancing the sense of achievement of the residents of this island province of China.
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