Ministry of Commerce and three other ministries: Pilot import of key faulty components for automotive R&D and testing in Hainan Free Trade Port

The Ministry of Commerce and three other ministries and commissions issued a notice on further improving the level of trade liberalization and facilitation in the Hainan Free Trade Port. Among other things, it proposes that jet fuel that enters independent bonded storage facilities within bonded supervision sites in the Hainan Free Trade Port from overseas and is used for re-export shall be inspected in accordance with international standards. Support is given to integrating, within the Yangpu Economic Development Zone, bonded warehouses and export supervision warehouses that store gasoline, kerosene, diesel, fuel oil, and naphtha, and to innovatively implementing the regulatory model of "two types of warehouse capacity, total volume approval, classified adjustment, and dynamic use." A pilot program for the import of key faulty auto parts for vehicle R&D and testing is to be carried out in the Hainan Free Trade Port. After the listing of liquefied natural gas futures, support is given to the Hainan Free Trade Port in carrying out business related to LNG futures delivery warehouses, and LNG futures bonded delivery business is allowed to adopt energy measurement. Overseas enterprises are allowed to use the bonded facilities of LNG receiving terminals in the Hainan Free Trade Port. New types of barter trade are to be carried out steadily and in an orderly manner in the Hainan Free Trade Port, with encouragement for pricing in RMB.