Chinese Vice Premier He Lifeng on Thursday attended the launch ceremony of island-wide special customs operations in the Hainan Free Trade Port (FTP) in Haikou, the capital of south China's island province of Hainan.
China on Thursday launched island-wide special customs operations in the Hainan FTP, which has now become the world's largest FTP by area, allowing freer entry of overseas goods, expanding zero-tariff coverage, and introducing more business-friendly measures.
The move is widely seen as a landmark in China's efforts to promote free trade and expand high-standard opening-up amid rising protectionism worldwide.
Under the new arrangements, the tropical island, which spans more than 30,000 square kilometers, has been designated a special customs supervision zone. This marks a new stage in the development of the Hainan FTP, which enables the freer flow of goods, capital, personnel and data, supported by zero tariffs, low tax rates and a simplified tax system.
Speaking at the launch meeting, He, who is also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, said substantial progress has been achieved in developing the Hainan FTP, and the essential conditions for its island-wide special customs operations have been met.
The island-wide special customs operations should serve as an opportunity to deepen reforms in key sectors, steadily advance high-quality development, improve the risk prevention and control system, and build the Hainan FTP into a leading gateway for China's opening-up in the new era, he said.
He also conducted on-site inspections in the free trade port to learn about cargo customs clearance procedures, the joint prevention and control mechanisms being put in place to target smuggling, and the implementation of the offshore duty-free policy.
Chinese vice premier attends launch meeting of Hainan special customs operations
