The authorities said they would continue to adhere to a policy of gradually abolishing a number of duties and taxes. The latter will apply exclusively to companies that meet the requirements of the free trade port.
Control mechanisms will be strengthened, but Hainan will continue to adhere to a strategy to strengthen economic openness. Experimental measures have already been introduced in some customs zones, exempting some enterprises from paying VAT and consumer tax.
In Hainan, duties have been lifted for local companies temporarily exporting aircraft, vessels and their components outside the region for the purpose of repair services. At the moment, the possibility of abolishing import tariffs and taxes for organizations importing product samples, promotional films and sound recordings to Hainan is being considered.
