On August 20, during the Signing Ceremony of Hainan Free Trade Port Key Projects (Fourth Batch) & Key Industrial Parks Investment and Cooperation Conference, world leading inflatable boat manufacturer Zodiac Nautic shook hands with Yangpu Economic Development Zone over a boat manufacturing project and the French boat builder became the first internationally influential brand to settle in Yangpu.

Headquartered in Paris and established in 1896, Zodiac Nautic is well known for its top quality rescue boats as well as leisure products used for purposes such as fishing and surfing. The company has authorized Shanghai Yi Long Industrial Co., Ltd. to be its sales and brand promotion agent in China.

The project is scheduled to start production at the end of the year. The first phase will see the assembly of imported accessories and partial refit work on inflatable boats, high-maneuverability fireboats, high-maneuverability commander boats, angling boats and small yachts, as well as the company’s boat repair business, and Asian transit warehouse logistics and distribution service. All the needed technology plus the technical standards for locally manufactured products will remain the same as that of the imported products.

The master plan for the construction of Hainan Free Trade Port reveals a preferential import tariff exemption policy for goods produced by enterprises in encouraged industries which are sold to other areas in China. This tariff exemption policy applies when the goods either contain no imported materials or when the value added to them by processing in Hainan Free Trade Port is 30% or greater (import value added tax and consumption tax will still need to be paid).The signing of this project is projected to play a “leading” role in Yangpu’s further business development work for advanced manufacturing.