HAINAN FREE TRADE PORT

Hainan Free Trade Port Adds Eight Items to ‘Zero Tariff’ List

16 March 2022

As announced by the Ministry of Finance, the General Administration of Customs and the State Taxation Administration, eight more types of production equipment listed in the commodity classifications section of the Customs Import and Export Tariff Schedule (2022) and needed in the cultural, sports and tourism sectors, are now exempt from customs duties, import value-added tax and consumption tax when imported into the Hainan Free Trade Port. More

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Hong Kong Logistics: Cutting-Edge Fashion and Wine Freight Solutions

16 September 2021

More logistics options have been made available to trading companies in recent years. Hong Kong logistics solutions providers face a serious challenge in how to adjust operations swiftly to meet client demands. In the face of an ever-changing logistics market, some operators have proactively taken advantage of market changes and created new opportunities, including CN Logistics International Holdings Limited. More

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Hainan Releases Negative List for Cross-Border Trade in Services

27 July 2021

The 2021 negative list for cross-border trade in services released by the Ministry of Commerce for the Hainan Free Trade Port will take effect on 26 August. Special management measures for overseas service providers who provide services through cross-border trade will apply to the Hainan Free Trade Port that covers the whole Hainan Island. More

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China’s 14th Five-Year Plan: Opening-Up the Business Environment

13 July 2021

According to the 14th Five-Year Plan adopted in March 2021, the “dual circulation development paradigm” refers to the “new development paradigm with the domestic market as the mainstay and the domestic and overseas markets reinforcing each other”. While the domestic market serves as the core of development, the overseas market will be regarded as its important partner and the pair reinforce each other. More

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Hainan to Improve Business Environment

12 July 2021

The General Office of the Hainan Provincial People’s Government recently issued a guidance on further improving the business environment and better serving market entities (Qiong Fu Ban Han No. 228 [2021]). More

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China Enacts Hainan Free Trade Port Law

17 June 2021

The Standing Committee of the 13th National People’s Congress adopted the Hainan Free Trade Port Law of the People’s Republic of China on 10 June. More

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Hainan Regulates Fiscal and Tax Policies for Supporting Industries

09 June 2021

Starting from 25 June, city and county governments, government departments and relevant industrial parks in Hainan province must not introduce any incentives directly linked to tax payments by enterprises when formulating investment promotion or industrial support policies, and must comply with the relevant requirements for the construction of the Hainan Free Trade Port. More

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Hainan Free Trade Port Adopts Measures for Trade Facilitation and Liberalisation

17 May 2021

The Ministry of Commerce and 19 other government departments jointly issued a circular outlining measures for promoting the facilitation and liberalisation of trade in the Hainan Free Trade Port (Shang Zi Mao Fa No. 58 [2021]). More

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China Announces Enterprise Income Tax Incentives for Hainan Free Trade Port

29 April 2021

The Ministry of Finance and the State Taxation Administration recently issued a list of enterprise income tax concessions (the ‘Hainan list’) for enterprises in the tourism, modern services and high-tech industries in the Hainan Free Trade Port (Cai Shui No. 14 [2021]) for implementation between 1 January 2020 and 31 December 2024. More

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China Announces Further Financial Support for Hainan’s Reform and Opening Up

23 April 2021

On 30 March, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange jointly released a plan outlining financial support for the comprehensive deepening of reform and opening up in Hainan. More

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