NPC Standing Committee Inspects Hainan Free Trade Port Law Implementation

Xinhua News Agency reported that the Standing Committee of the National People's Congress formed an inspection team and visited Hainan in June to examine the implementation of the Hainan Free Trade Port Law. The team found that implementation has progressed solidly, with core policies taking effect and cross-border trade and investment facilitation continuing to deepen. Hainan implemented policies including zero-tariff lists for imports and tariff exemptions on domestic sales of value-added processed goods, alongside streamlined market access and approval reforms. However, the inspection team noted remaining shortcomings, including transfer obstacles between bonded and zero-tariff goods, limited competitive advantages in cross-border trade in services, and room to optimize fiscal and tax systems. To reinforce the institutional framework, the team recommended integrating policies ahead of customs closure, clearing implicit barriers, and aligning rules with high-standard trade agreements such as the CPTPP and DEPA.

At Hainan's one-stop aircraft maintenance base, zero-tariff policies and bonded supervision models exempt imported aviation equipment sent by overseas carriers from tariffs, reducing maintenance costs across more than 2500 completed aircraft maintenance operations.