The Ministry of Finance and two other departments issued a "zero tariff" policy for imported goods consumed by residents within Hainan Free Trade Port

To solidly promote the construction of Hainan Free Trade Port and effectively enhance the sense of gain among residents on the island, the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration jointly issued the “Notice on the ‘Zero Tariff’ Policy for Imported Goods for Domestic Residents’ Consumption in Hainan Free Trade Port,” which took effect from the date of announcement.

The policy stipulates that imported goods purchased by residents within designated business premises in the Hainan Free Trade Port are exempt from import duties, value-added tax (VAT), and consumption tax at both the import and domestic stages within the duty-free quota and the scope of the goods list. Among them, residents on the island include Chinese citizens holding Hainan ID cards, Hainan residence permits, or Hainan social security cards, as well as overseas personnel working and living in Hainan with residence permits. The duty-free quota is 10,000 RMB per person per year, with no limit on the number of purchases. The duty-free goods focus on daily necessities for residents, mainly including some food and beverages, daily chemical products, household goods, and maternal and infant products.

The introduction of this policy is conducive to reducing residents’ living costs, meeting the diverse shopping needs of the public, and allowing the achievements of Hainan Free Trade Port construction to benefit more residents on the island.

(Source: Ministry of Finance website)