Hainan Free Trade Port Adopts Measures for Trade Facilitation and Liberalisation

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]). A total of 28 policy measures were put forward, including 13 covering trade in goods and 15 covering trade in services.

A pilot reform will be carried out in the Yangpu Bonded Zone, whereby enterprises importing or exporting crude or refined oil through the “first line” will be excluded from qualifications and quantitative management, and those importing edible sugar will be excluded from tariff-rate quota management. The bonded zone is also being given the power to grant international navigation vessels permission to refuel with bonded oil.

Source: Ministry of Commerce