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Further, for businesses, development potential will be broadened significantly.
To help companies better integrate into global industrial and supply chains, the scope of zero-tariff goods will be expanded significantly, import and export regulations will be relaxed further, and import costs will be lowered, an official from China’s National Development and Reform Commission, Cai Ping, said.
The zero-tariff policy beneficiaries will broadly include all enterprises and institutions across the island with actual import needs, including privately run non-enterprise entities, deputy head of the tariff department of China’s Ministry of Finance, Wu Jingfang, said.
The number of zero-tariff goods will be increased from about 1,900 to approximately 6,600, accounting for 74 percent of all tariff categories. This expansion is expected to further reduce production costs for eligible beneficiaries, Wu said.
Eligible beneficiaries will also be allowed to bring in zero-tariff goods and related processed products without incurring import taxes, he added.
China’s Hainan Free Trade Port will officially launch island-wide independent Customs operations on December 18, 2025.
Reporter: Xinhua, Azis Kurmala
Editor: M Razi Rahman
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