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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
HAIKOU, Dec. 18 (Xinhua) — China on Thursday launched independent customs operations throughout the Hainan Free Trade Port (HFTP), the world's largest by area, bringing freer entry of foreign goods, expanded zero-tariff coverage and a more favorable business environment.
The move is widely seen as a landmark step in China's ongoing efforts to promote free trade and expand high-level openness amid rising protectionism worldwide.
Under the new regime, the tropical island, covering over 30,000 square kilometers, has been declared a special customs control zone. This marks a new stage in the development of the Hainan Free Trade Zone, which allows for freer flows of goods, capital, personnel, and data thanks to zero tariffs, low tax rates, and a simplified tax system.
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