China launches island-wide special customs operations in Hainan FTP
HAIKOU,Dec.18(Xinhua)--China on Thursday launched island-wide special customs operations in the Hainan Free Trade Port(FTP),the world's largest FTP by area,allowing freer entry of overseas goods,expanded zero-tariff coverage and more business-friendly measures.
The move is widely seen as a landmark step in China's ongoing efforts to promote free trade and expand high-standard opening-up at a time of rising protectionism worldwide.
Under the new arrangements,the tropical island of more than30,000square km has been designated as a special customs supervision zone.This marks a new stage in the development of the Hainan FTP,which enables freer flows of goods,capital,personnel and data,supported by zero tariffs,low tax rates and a simplified tax system.
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