What is the operation of customs closure?
What new changes will there be after the customs closure?
CCTV reporter of China Media Group:
At the Boao Forum for Asia, many guests have been discussing the latest progress in the construction of the Hainan Free Trade Port, especially the customs closure operation that is scheduled to take place this year. Currently, we have collected the issues that different groups of people are most concerned about regarding the customs closure of Hainan. It has been found that what ordinary people care most about is the impact on their daily lives. These concerns include whether a pass is needed to enter and exit Hainan, and whether shopping will become cheaper, etc. On the other hand, what enterprises are most concerned about are the policy dividends such as "zero tariffs" and "low tax rates".
Chi Fulin, President of the China (Hainan) Institute for Reform and Development and President of the Hainan Free Trade Port Research Institute:
The purpose of the customs closure is to create conditions for free trade in goods. For example, people can come to Hainan where they can enjoy zero tariffs, resulting in lower costs. Goods can freely enter and exit, and information can also flow in an orderly and liberalized manner.
CCTV reporter of China Media Group:
Do we need to go through customs when coming to Hainan after the customs closure?
Chi Fulin, President of the China (Hainan) Institute for Reform and Development and President of the Hainan Free Trade Port Research Institute:
Only things, not people. This article is particularly clear that people are fully and freely mobile.
The picture shows Phoenix Island in Sanya.
It can be clearly stated that after the customs closure operation, goods, funds, personnel, etc. from overseas can freely enter and exit the Hainan Free Trade Port. Overseas goods entering Hainan enjoy zero tariffs, but if they want to enter the Chinese mainland from Hainan, they need to be supervised by the customs and pay the supplementary tariffs. However, currently, each person has an annual tax-free quota of 100,000 yuan. To give an example, Hainan is like a "global supermarket" within China. Foreign goods don't need to pay taxes when they come in, but if you want to buy something in Hainan and take it back to the Chinese mainland and the value exceeds 100,000 yuan, you need to declare and pay the additional taxes.
"Customs closure" does not mean "closing off the island", but rather implies that the Hainan Free Trade Port will further expand its high-level opening-up to the outside world and move towards becoming an international free trade port.
In the future, this place will be a testing ground for the free flow of elements such as goods, services, capital, and data. It will also be a frontier position for the formulation and innovation of rules and systems. Through the "soft connectivity" of rules and mechanisms, the "hard connectivity" of infrastructure, the "industrial connectivity" with a focus on trade in services, the "green connectivity" for low-carbon and sustainable development, and the "intellectual connectivity" of regular dialogue and exchanges, it will promote the construction of a free trade and inclusive economic globalization.
What is the operation of customs closure?
What new changes will there be after the customs closure?
CCTV reporter of China Media Group:
At the Boao Forum for Asia, many guests have been discussing the latest progress in the construction of the Hainan Free Trade Port, especially the customs closure operation that is scheduled to take place this year. Currently, we have collected the issues that different groups of people are most concerned about regarding the customs closure of Hainan. It has been found that what ordinary people care most about is the impact on their daily lives. These concerns include whether a pass is needed to enter and exit Hainan, and whether shopping will become cheaper, etc. On the other hand, what enterprises are most concerned about are the policy dividends such as "zero tariffs" and "low tax rates".
Chi Fulin, President of the China (Hainan) Institute for Reform and Development and President of the Hainan Free Trade Port Research Institute:
The purpose of the customs closure is to create conditions for free trade in goods. For example, people can come to Hainan where they can enjoy zero tariffs, resulting in lower costs. Goods can freely enter and exit, and information can also flow in an orderly and liberalized manner.
CCTV reporter of China Media Group:
Do we need to go through customs when coming to Hainan after the customs closure?
Chi Fulin, President of the China (Hainan) Institute for Reform and Development and President of the Hainan Free Trade Port Research Institute:
Only things, not people. This article is particularly clear that people are fully and freely mobile.
The picture shows Phoenix Island in Sanya.
It can be clearly stated that after the customs closure operation, goods, funds, personnel, etc. from overseas can freely enter and exit the Hainan Free Trade Port. Overseas goods entering Hainan enjoy zero tariffs, but if they want to enter the Chinese mainland from Hainan, they need to be supervised by the customs and pay the supplementary tariffs. However, currently, each person has an annual tax-free quota of 100,000 yuan. To give an example, Hainan is like a "global supermarket" within China. Foreign goods don't need to pay taxes when they come in, but if you want to buy something in Hainan and take it back to the Chinese mainland and the value exceeds 100,000 yuan, you need to declare and pay the additional taxes.
"Customs closure" does not mean "closing off the island", but rather implies that the Hainan Free Trade Port will further expand its high-level opening-up to the outside world and move towards becoming an international free trade port.
In the future, this place will be a testing ground for the free flow of elements such as goods, services, capital, and data. It will also be a frontier position for the formulation and innovation of rules and systems. Through the "soft connectivity" of rules and mechanisms, the "hard connectivity" of infrastructure, the "industrial connectivity" with a focus on trade in services, the "green connectivity" for low-carbon and sustainable development, and the "intellectual connectivity" of regular dialogue and exchanges, it will promote the construction of a free trade and inclusive economic globalization.
