2023-04-03 

Source: CCTV News

"Customs closure" is a customs term that refers to the entire island of Hainan becoming a "domestic and external" area, where preferential policies such as zero tariffs can be enjoyed within the island. In this specific area, the concept of "lockdown" can also be abbreviated as: first line release, second line control, and freedom within the island.

Yang Lin, the second level chief staff member of the Hainan Provincial Party Committee's Deep Reform Office (Free Trade Port Working Committee Office), introduced that after the operation of customs closure, on the one hand, the vast majority of imported goods (excluding taxable goods) in Hainan Free Trade Port are duty-free;

On the other hand, goods outside the prohibited and restricted list can be freely imported and exported, and Hainan's trade with other parts of the world will become more frequent, promoting the prosperity and development of import and export trade, and promoting Hainan's greater participation in international division of labor.

On the other hand, personnel opening will also be more open to more countries to implement visa free policies, and more foreign talents will come to Hainan to carry out business and tourism.

The closure and operation of the entire island is a milestone project in the construction of Hainan Free Trade Port. It is understood that the preparation for the comprehensive launch of the island wide customs closure operation in Hainan mainly includes 64 work tasks, 31 construction projects (port construction, customs inspection equipment, etc.), and 27 pressure testing items. Currently, efforts are being made to ensure the island wide customs closure operation by the end of 2025.

In order to reduce the pressure difference before and after the closure and avoid significant risks after the closure, Hainan will strive for over 80% of the free trade port policy to be fully tested and implemented before the closure. Li Shijie said, "After the 'first line liberalization', we need to prevent trade risks, investment risks, financial risks, as well as data security, network risks, and public health risks. These are all types of risks that Hainan needs to focus on preventing and controlling after the closure operation

Source: CCTV News

"Customs closure" is a customs term that refers to the entire island of Hainan becoming a "domestic and external" area, where preferential policies such as zero tariffs can be enjoyed within the island. In this specific area, the concept of "lockdown" can also be abbreviated as: first line release, second line control, and freedom within the island.

Yang Lin, the second level chief staff member of the Hainan Provincial Party Committee's Deep Reform Office (Free Trade Port Working Committee Office), introduced that after the operation of customs closure, on the one hand, the vast majority of imported goods (excluding taxable goods) in Hainan Free Trade Port are duty-free;

On the other hand, goods outside the prohibited and restricted list can be freely imported and exported, and Hainan's trade with other parts of the world will become more frequent, promoting the prosperity and development of import and export trade, and promoting Hainan's greater participation in international division of labor.

On the other hand, personnel opening will also be more open to more countries to implement visa free policies, and more foreign talents will come to Hainan to carry out business and tourism.

The closure and operation of the entire island is a milestone project in the construction of Hainan Free Trade Port. It is understood that the preparation for the comprehensive launch of the island wide customs closure operation in Hainan mainly includes 64 work tasks, 31 construction projects (port construction, customs inspection equipment, etc.), and 27 pressure testing items. Currently, efforts are being made to ensure the island wide customs closure operation by the end of 2025.

In order to reduce the pressure difference before and after the closure and avoid significant risks after the closure, Hainan will strive for over 80% of the free trade port policy to be fully tested and implemented before the closure. Li Shijie said, "After the 'first line liberalization', we need to prevent trade risks, investment risks, financial risks, as well as data security, network risks, and public health risks. These are all types of risks that Hainan needs to focus on preventing and controlling after the closure operation