Translation. Region: Russian Federal
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, Aug. 9 (Xinhua) — With the launch of an independent customs operation regime in southern China's island province of Hainan, local enterprises will enjoy additional benefits from zero customs duties, experts said on a recent episode of the China Economic Roundtable, a media discussion program hosted by Xinhua News Agency.
According to Cai Ping, an official with the National Development and Reform Commission of China, the development opportunities for enterprises will be greatly expanded. The list of goods subject to zero customs duties will be significantly expanded, import and export controls will be further relaxed, and import costs will be reduced, allowing companies to better integrate into global production and supply chains.
According to Wu Jingfang, deputy director of the customs duties department of the Ministry of Finance of China, after the launch of the independent customs operations regime across the island, the beneficiaries of the zero tariff policy will be all enterprises and organizations on the island with real import needs, including private non-profit organizations.
The list of goods with zero tariff rates will increase from about 1,900 to 6,600 items, accounting for 74 percent of all tariff categories. This expansion is expected to further reduce the production costs of relevant beneficiaries, Wu Jingfang noted.
In addition, the circulation of zero-tariff goods and related products among the relevant beneficiaries will be allowed without paying import duties, she added.
The independent customs operation regime will be implemented throughout Hainan Province on December 18, 2025. -0-
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