Recently, \"Hainan closed\" has become a buzzword, but many people hear \"closed\", thought it was \"closed\". In fact, the opposite is true - the closure is not the closure of the island, but a greater degree of openness.<\/p>\n\n\n\n
The<\/mark><\/p>\n\n\n\n What is \"sealing\"?<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Simply put, customs sealing refers to the establishment of the entire island of Hainan as a special area for customs supervision and the implementation of \"Liberalization of the first line, control of the second line, freedom of the island<\/strong>\" policy.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Why December 18th?<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n The launch of the sealing operation was scheduled for December 18, which is of great symbolic significance. This is the day of the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China (CPC) in 1978, marking the beginning of China's reform and opening up. The choice of the same date to start the Hainan customs sealing operation is to demonstrate to the world China's unswerving determination and confidence in expanding a high level of openness.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Planning for the future<\/strong><\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Continuous upgrading of the duty-free policy for outlying islands<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n After the closure of the island, Hainan will continue to implement the island duty-free shopping policy, and the preferential strength will be further expanded.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Starting from November 1, 2024, Hainan's duty-free shopping policy for outlying island travelers has been adjusted to allow \"outlying island and departing travelers\" to enjoy the outlying island duty-free shopping policy.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Imported \"zero-tariff\" commodities will be subject to negative list management, and the scope of the list will be expanded from the current 1,900 tariff lines to more than 6,600 tariff lines, accounting for about 74% of all commodity tariff lines.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n This means that more than 70% of imported goods will enjoy zero tariff treatment in Hainan, an increase of 53 percentage points over the pre-customs closure period.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Will personal travel be affected?<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n For people planning to travel to Hainan for tourism and business, the closure operation brings more convenience than restriction. Transportation and security procedures to and from Hainan Island remain basically unchanged.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n What opportunities will there be for businesses?<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n After the closure of the whole island, the main body of the import \"zero tariff\" benefit will basically cover all kinds of enterprises, institutions and private non-enterprise units that have actual import demand on the whole island.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Processing value-added products up to 30% is possible.Duty-free sale to the Mainland<\/strong>. This policy was initially applied only to enterprises in the grain, oil and meat industries within the special customs supervision zone; it has now been expanded to include production and processing areas outside the zone, such as pharmaceuticals, coffee and jewelry, which has brought development opportunities to a wider range of industries.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n More importantly, imported \"zero-tariff\" commodities and their processed manufactured products are no longer restricted to enterprises for their own use, but can be freely circulated among the beneficiary entities and are exempted from the payment of import taxes.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Will Hainan become a \"tax haven\" after the closure?<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Hainan Free Trade Port implements competitive tax policies, with corporate income tax reduced to 151 TP3T, and qualified individuals exempted from the actual tax burden in excess of 151 TP3T.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n These policies are fundamentally different from \"tax havens\" - Hainan's \"low tax rate\" is based on the premise of compliance, and \"zero tariff\" is guaranteed by regulation. Zero tariff\" is guaranteed by regulation.<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n Hainan also put what \"hard work\"?<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n To ensure the efficient movement of goods and people after the closure, Hainan isBuilding a Smart Customs Clearance System<\/strong>The<\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n The closure of Hainan is actually a sign of greater openness and convenience:<\/strong><\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n The<\/mark><\/p>\n\n\n\n In the future to go to Hainan, is no longer \"out of the province\", more like entering a \"territory outside the customs\" of the international convenience zone. Such Hainan, is a more open attitude to meet the global attention, are you ready?<\/p>","protected":false},"excerpt":{"rendered":" Customs sealing refers to the establishment of the whole island of Hainan as a special area for customs supervision, and the implementation of the policy of \"liberalization of the first line, control of the second line, and freedom within the island\".<\/p>","protected":false},"author":1,"featured_media":5578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[231,232,233],"class_list":["post-5577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-231","tag-232","tag-233"],"yoast_head":"\n\n
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