Cargo containers at Yangpu Port. (Source: HiNews)

On November 25, the Department of Finance of Hainan Province announced that the pre-declaration period for beneficiary eligibility for entities wishing to import goods into the Hainan Free Trade Port under the "zero-tariff" regime has been extended to December 15, giving entities more time to submit their declarations before the launch of island-wide special customs operations.

On August 26, the Department of Finance of Hainan Province issued an announcement regarding the pre-declaration of beneficiary eligibility, initially specifying a pre-declaration period of September 1 to November 30, 2025.

Following the November 25 announcement, this period has now been extended to December 15.

According to the Circular on the Taxation Policy for Goods Entering and Leaving through the "First Line" and "Second Line" of the Hainan Free Trade Port and Circulating within Hainan Island jointly issued by the Ministry of Finance, General Administration of Customs, and State Taxation Administration, goods imported by eligible beneficiaries into the Hainan Free Trade Port following the launch of island-special customs operations will be exempt from import tariffs, import VAT, and consumption tax.

Three kinds of entities are able to submit pre-declarations:

1. Enterprises with independent legal person status registered in the Hainan Free Trade Port.

2. Public institutions within the Hainan Free Trade Port.

3. Science and technology-oriented and education-oriented private non-enterprise units in the Hainan Free Trade Port approved by the Ministry of Science and Technology and the Ministry of Education, in conjunction with the Ministry of Civil Affairs, as well as science and technology-oriented and education-oriented private non-enterprise units registered in the Hainan Free Trade Port and approved by provincial-level science and technology and education authorities in conjunction with provincial-level civil affairs authorities.