Ministry of Finance: After the closure of Hainan Free Trade Port, the coverage of zero-tariff goods has significantly increased.

Deputy Minister of Finance Liao Min stated at a press conference held by the State Council Information Office on July 23 that compared to the policies before the closure of the island, the coverage of "zero tariffs" goods has significantly increased. The current list of three "zero tariff" import goods covers about 1,900 tariff items. After the closure of the island, imported "zero tariff" goods will be managed by a negative list, replacing the previous "zero tariff" positive list with an import tax goods catalog. The scope of "zero tariff" goods has been expanded to about 6,600 tariff items, accounting for 74% of all tariff items, an increase of nearly 53 percentage points compared to before the closure, significantly increasing the level of openness. The range of beneficiaries has significantly expanded. After the closure of the island, beneficiaries will basically cover all types of enterprises, institutions, and private non-enterprise units on the island with actual import needs.