The first batch of goods processed and added value with Hainan's own products in the Hainan Free Trade Port will be exempted from export tariffs.

On the night of December 23, a food company in Baoting Li and Miao Autonomous County in Hainan produced 198 kilograms of virgin coconut oil, which was shipped to Guangzhou from the island through the New Haikou Port and Nan Port "second-line port" freight consolidation inspection site. This is the first batch of goods in Hainan to use Hainan-produced goods for processing and value-added operations after the island's closure. The value of the coconut oil enjoying the duty-free policy for processing and value-added is 32,000 yuan, and some of it is made from locally produced coconuts and will be used to produce beauty products. The policy of "exempting import duties for goods produced in Hainan or with imported materials exceeding 30% of the value-added in processing and entering the mainland" in the Hainan Free Trade Port helps companies save over 12% of raw material costs and truly enjoy the policy dividends after the closure of the free trade port. It is understood that after the closure of the entire island in Hainan, the value of locally produced Hainan goods can be deducted from the prices of domestically purchased parts used by processing and value-added enterprises, included in the value-added part, which makes it easier to achieve a 30% value-added rate. It also benefits local Hainan-produced goods enterprises to maintain closer cooperation with processing and value-added enterprises, encouraging the development of local industries in Hainan.