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China gonna turn HAINAN island into Duty Free Dubai like place, time to MOVE
| AZNgirl ICE Agent Deporting Her Brother | 07/25/25 |
| AZNgirl ICE Agent Deporting Her Brother | 07/25/25 |
Poast new message in this thread
Date: July 25th, 2025 6:37 AM Author: AZNgirl ICE Agent Deporting Her Brother Was thikning of taking Chink classes there anyway, wld be 1800000000000000 if it became a Dubai or Sing. I may fly there straight from Africa, found a flight from Dubai direct there for like $300
https://www.scmp.com/economy/china-economy/article/3319273/expansion-tariff-free-access-chinas-hainan-big-boost-trade-beijing-says |
Date: July 25th, 2025 6:43 AM Author: AZNgirl ICE Agent Deporting Her Brother Expansion of tariff-free access to China’s Hainan a big boost for trade, Beijing says A separate customs zone will be established in the tropical island province from mid-December, enhancing its free-trade credentials Reading Time: 2 minutes Why you can trust SCMP
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Listen Xiuying Port in Haikou, the capital of south China’s Hainan province, on Tuesday. Photo: Xinhua Ji Siqiin Beijing Published: 4:47pm, 23 Jul 2025 China’s tropical island province of Hainan will have an independent customs regime by the end of the year, the central government announced on Wednesday. Starting from December 18, a separate customs zone will be established in Hainan, which Beijing wants to transform into a free-trade port, as well as a centre for offshore financing and duty-free shopping that will lure tourists and businesses with an internationally competitive tax regime and relaxed visa requirements. A key part of the country’s “dual circulation” economic strategy that aims to boost domestic consumption, the island’s much lower tariffs on imports could also see it serve as a buffer zone in the ongoing trade war between China and the United States. The new customs regime will allow around 6,600 types of goods into Hainan with zero tariffs, with the exceptions being those listed in an official catalogue of taxable items, officials said at a news conference in Beijing. The tariff-free items cover 74 per cent of all taxable imports, up from the current level of 21 per cent. The island will adopt more relaxed trade regulations, with certain goods that are prohibited or restricted from being imported in the rest of the country to be granted exemptions in Hainan, said Wang Changlin, a vice-chairman of the National Development and Reform Commission. Imported goods will be able to circulate tax-free within the island, and those with value-added processing exceeding 30 per cent will be able to be sold tariff-free in the rest of mainland China, Wang said. It will help extend local industrial chains, enhance competitiveness, and foster industrial clustering effects Vice-Minister of Finance Liao Min “Hainan’s connectivity with the international market will become more efficient, which holds significant importance for … pioneering new pathways for China’s reform and opening up,” he said. These policies will help further reduce production costs for market entities, stimulate market vitality, and significantly improve the liberalisation and facilitation of goods trade in the Hainan Free Trade Port, Vice-Minister of Finance Liao Min told the same news conference. “It will help extend local industrial chains, enhance competitiveness, and foster industrial clustering effects,” Liao said. Thanks to preferential policies implemented in Hainan since President Xi Jinping announced his master plan to transform it into an international free-trade port seven years ago, the island’s actual utilised foreign investment from 2020 to 2024 exceeded the total of the previous 32 years combined – dating back to the province’s establishment – according to official data. The island’s total import and export volume of goods also maintained an average annual growth rate of over 30 per cent in the past four years, according to Yuan Xiaoming, an assistant minister of commerce. “As unilateralism and protectionism intensify worldwide and economic globalisation faces headwinds … we are committed to building Hainan into a crucial gateway for China’s new era of opening up, which will not only contribute to China’s sustained economic recovery but also inject stability and certainty into the world economy,” Yuan said. The province currently allows passport holders from 85 countries to enter without a visa, making it much easier for foreigners to enter than other mainland provinces. |