VCG China on Thursday launched island-wide special customs operations in south China's Hainan Free Trade Port (FTP), the world's largest FTP by area, allowing freer entry of overseas goods, and expanded zero-tariff coverage and more business-friendly measures.
There is no need to go through customs formalities for goods transshipped to the rest of China at the Hainan Free Trade Port. They shall be loaded and unloaded at the workplaces (sites) under customs supervision in the free trade port, stored separately from other goods under customs supervision, and identified with obvious marks.
China already has 22 free trade zones (FTZs), but Hainan represents a fundamentally different level of openness. Most FTZs are limited to specific urban areas and focus on upgrading local industries. Hainan has transformed an entire island into a unified free trade port, with its own customs, tax and regulatory system.
26. Phased implementation. Based on different phases of the construction of Hainan Free Trade Port, zero tariffs, low tax rates and a simplified tax system will be arranged and implemented in steps to develop an internationally competitive tax system. (9) Social governance.
On 10 June 2021, the 29th meeting of the Standing Committee of the 13th National People's Congress passed the Hainan Free Trade Port Law of the People's Republic of China, which determined to establish and improve the Hainan Free Trade Port customs supervision special zone system with closed-off customs operations on the entire island.
China already has 22 free trade zones (FTZs), but Hainan represents a fundamentally different level of openness. Most FTZs are limited to specific urban areas and focus on upgrading local industries. Hainan has transformed an entire island into a unified free trade port, with its own customs, tax and regulatory system.
On 5 January 2024, the inspection area for railway freight trains at Huairou South railway station —the first railway customs clearance project of the Hainan Free Trade Port, built by the China Railway 25th Bureau Group—was completed.
The "Notice on Preferential Corporate Income Tax Policies for Hainan Free Trade Port" proposed that enterprises in encouraged industries registered and operated in Hainan Free Trade Port shall be subject to a reduced corporate income tax rate of 15%.
Static electricity is a source of trouble in winter when the air is dry in some countries and regions. Static electricity refers to electricity that is literally static; that is, it is electricity whereby the electric charges *1 do not move and the state of electrification *2 is maintained.
Static electricity is a phenomenon we can experience on a daily basis without even realizing it. It's that small shock we feel when touching a door handle or the static in our hair when using a plastic comb or rubbing a balloon. Despite being a common phenomenon, this type of electricity is either not studied in depth or causes confusion.
The effects of static electricity are familiar to most people because they can feel, hear, and even see sparks if the excess charge is neutralized when brought close to an electrical conductor (for example, a path to ground), or a region with an excess charge of the opposite polarity (positive or negative).
One of the most common and easy-to-understand examples of static electricity is the classic example of combing your hair with a plastic comb. Plastic is an insulating material, which means it doesn't conduct electricity well. In the act of combing, the brush accumulates electrons due to friction with the hair, generating an electric charge.
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