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China: China's Hainan fully prepared for island-wide customs operations
Storyline: China's Hainan fully prepared for island-wide customs operations [Voice_over] China's customs authorities announced on Tuesday that Hainan has all the necessary software and hardware in place for its upcoming island-wide independent customs operations. Officials stated that four key supporting projects, including the Hainan International Travel Healthcare Center, have been completed. Furthermore, ten second-line ports have passed national acceptance, with their supervision facilities now ready for operation. Following the launch of the customs smart supervision platform, the island will implement optimized zero-tariff policies and manage bonded goods with enhanced value-added processing exemption measures. [Sound_bite] Pan Cheng, Director, Department of Free Trade Zone and Special Control Area, General Administration of Customs: "The General Administration of Customs has developed and launched the smart supervision platform, which has achieved coordinated integration with Hainan's international trade single window, nationwide customs supervision systems, as well as port and airport operation systems, ensuring stable and efficient operation." [Sound_bite] Gao Ruifeng, Director of Haikou Customs: "We have relaxed eligibility thresholds for enterprises to enjoy preferential policies and expanded the range of imported materials eligible for processing value tax exemptions. By incorporating Hainan-sourced materials into the value-added calculations and extending the applicability of cumulative value-add processing, we are optimizing the accounting methodology for value-added rates while reducing the frequency of such assessments. These measures aim to support Hainan's high-tech industries in extending their industrial chains and forming industrial clusters." [Restrictions: No access Chinese mainland]
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