Hainan natives are free to buy low-priced duty-free goods, which is a zero-tariff privilege granted by the state to Hainan Island. However, goods without duty-free are not allowed to be taken out of Hainan, otherwise they will have to pay customs duties. In the future, goods produced in other parts of the mainland will need to go through corresponding export procedures when they are exported to Hainan Island.
Benefits of Hainan Island's closure:
Imported goods are more expensive, one of the most important reasons is that you have to pay taxes when you enter the customs, and this tax is zero in Hainan, so you don't pay it.
The closure of Hainan Island is a symbol of Hainan's industrial transformation. The era with tourism and real estate as the core is about to pass, and Hainan's industrial development will turn to manufacturing trade, high-tech industries and financial services.
After Hainan is closed to the whole island, the nature of residential real estate will gradually change into a "living+self-occupation" compound real estate, which is beneficial to Hainan's housing prices.
After the closure of the whole island, the development of Hainan Free Trade Port will undergo major changes, and the four major liberalization development dividends will soon be realized.
Hainan will usher in at least four major policy dividends in the era of island closure: free flow of funds+global opening of the Internet+free entry and exit of personnel+offshore trade and financial center. These four bonuses mean that Hainan has been at the forefront of China's opening up.
Customs clearance operation refers to the construction of a special area under customs supervision throughout Hainan Island. In this particular area, the concept of "customs clearance" can also be abbreviated as: first-line clearance, second-line control, and freedom on the island. A phased goal facing the construction of Hainan Free Trade Port is to start the customs clearance operation on the whole island before the end of 2025.
"First Line" refers to the connection between Hainan Free Trade Port and the whole world. This means smoother connection with the world and freer and more convenient trade and investment policies on the island.
The "second line" refers to the connection between Hainan Free Trade Port and the mainland, that is, moderate control is implemented between Hainan Free Trade Port and the mainland to ensure the unification of the national trade control policies and make a good connection with the tax gap in the mainland. The objects of management are mainly goods, commodities and means of transportation, but the personnel exchanges with the mainland will not change.
When did the closure of Hainan Island begin?
However, the closure of Hainan indicates that the construction of Hainan Free Trade Port has entered a substantive stage, which means that goods from mainland China are regarded as exports when they enter Hainan, and of course, goods from Hainan are regarded as imports when they enter the mainland.
In the process of promoting the construction of Hainan Free Trade Port, the importance of the whole island customs clearance operation is self-evident On the one hand, the implementation of island-wide customs closure can introduce more high-quality goods to Hainan Province, meet the growing consumer demand of the people, and improve the quality and competitiveness of goods on the island; On the other hand, the island closure has also made Hainan Province the forefront of opening up, attracted more domestic and foreign investment and resources, and promoted the rapid development of Hainan's economy.
The closure of Hainan Island is not to seal Hainan into an island, but to enliven the free trade on the island by the opportunity of closure, forming a larger radiation radius, thus forming a magnetic field effect.
The reporter learned from the first press conference held on March 29th that "vigorous rise is just the right time-Hainan's five-year progress in comprehensively deepening reform and opening up" that in the past five years, the construction of Hainan Free Trade Port has been launched and a major breakthrough has been made in comprehensively deepening reform and opening up. The policy system of free trade port is being gradually established, and the preparations for customs clearance across the island are being fully launched.
I hope the above content can help you. If in doubt, please consult a professional lawyer.
Legal basis:
Article 4 of People's Republic of China (PRC) Maritime Law
Maritime transportation and towing between People's Republic of China (PRC) Port and China Port are operated by ships flying the flags of National Flag of the People's Republic of China and China. However, unless otherwise provided by laws and administrative regulations. Without the approval of the transportation department of the State Council, foreign ships are not allowed to engage in maritime transportation and towing between People's Republic of China (PRC) port and China port.
Article 15 of the Land Management Law of the People's Republic of China
People's governments at all levels shall, according to the requirements of national economic and social development planning, land consolidation and resource and environmental protection, land supply capacity and the demand for land in various constructions, organize the preparation of overall land use planning.
The planning period of the overall land use planning shall be stipulated by the State Council.