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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, Nov. 19 (Xinhua) — Preparatory work for the launch of independent customs operations at the Hainan Free Trade Port in the southern Chinese island province of the same name has been basically completed, the General Administration of Customs (GAC) said on Tuesday.
According to Pan Cheng, an official from the State Customs Administration of China, a comprehensive customs regulation system has been established that is adapted to the specifics of independent customs operations, including five policies and circulars, as well as local customs regulations and internal operational guidelines.
For independent customs operations, a special supervision model will be implemented at Hainan Free Trade Port, which can be described as “free access on the first line, regulated access on the second line, and free movement of goods on Hainan Island.”
"First Line" refers to the connection between Hainan Island and overseas markets. At this stage, goods will enter the island more conveniently and at zero tariffs. Moreover, they will enjoy expedited customs clearance, and the number of items subject to declaration will be reduced from 105 to 33, said Gao Ruifeng, Director of Customs in Haikou, the capital of Hainan Province.
The number of items subject to declaration on the "second line," which refers to the customs border between Hainan and the rest of mainland China, will also be significantly reduced, which will facilitate the activities of companies engaged in foreign trade, he emphasized at a press briefing.
Another favorable measure is the further optimization of the duty exemption policy for goods that have received a certain amount of added value in Hainan through processing, making it easier for companies to qualify.
"This will stimulate the growth of local manufacturing industries and contribute to the development of production chains and clusters," noted Xin Yan, an employee of the National Technical University.
As part of efforts to promote the construction of the Hainan Free Trade Zone, China this month streamlined the island's offshore duty-free shopping policy, taking measures such as expanding the range of duty-free goods.
According to official data, from November 1 to 17, there was a surge in offshore duty-free trade volumes in Hainan, with the total duty-free sales volume approaching 1.33 billion yuan (about 187.7 million US dollars), up 28.52 percent from the same period last year. -0-
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