The value of zero-tariff goods imported through customs supervision of the Hainan Free Trade Port (FTP) reached 360 million yuan (about 51 million U.S. dollars) on Thursday, the first day of the island-wide special customs operations.
According to official statistics released by the Haikou Customs, major imports through the "first line" of the customs system included crude oil and aviation equipment.
Duty-free goods sold to China's mainland through the "second line," under the policy allowing products with an added value of 30 percent or more during processing, totaled nearly 14.69 million yuan (about 2.1 million U.S. dollars) on the day.
The policy resulted in tariff exemptions of 808,000 yuan (114,750 U.S. dollars), with major products including medical devices, pharmaceuticals and food.
China on Thursday launched island-wide special customs operations in the Hainan FTP, the world's largest FTP by area, allowing freer entry of overseas goods, expanding zero-tariff coverage, and introducing more business-friendly measures.
The "first line" refers to Hainan's connection with overseas markets. Meanwhile, the "second line" denotes the customs boundary between the island and China's mainland.
Officials describe the two-tiered special customs system as "freer access at the first line," referring to freer trade between Hainan and areas outside China's customs border, and "regulated access at the second line," which means maintaining standard customs controls for China's mainland.
And, three international vessels completed registration at the port of registry at the Yangpu Port in the tropical island province.
Hainan FTP logs smooth cargo flows on 1st day of special customs operations
