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Hainan exempts $1.78 bln worth of imports from duties over five years
Hainan Province has exempted imported goods worth 12.1 bln yuan from customs duties over the past five years, saving importing companies 920 mln yuan, according to TASS reporting. The province also saw over 7,500 certificates of origin issued in the first half of the year, with a significant share destined for ASEAN and RCEP countries.
Hainan Province has exempted imported goods worth 12.1 billion yuan ($1.78 billion) from customs duties over the past five years, saving importing companies 920 million yuan (over $135 million), according to a report by Hainan Daily newspaper cited by TASS. The preferential policy, which has benefited 11 industries producing high value-added goods, marks a significant step in the development of the Hainan Free Trade Port.
Coverage comparison
The reporting, based on official data from Hainan customs authorities and Hainan Daily, presents two distinct but complementary angles. One report focuses on the duty exemption program and its impact on high-value-added industries, while the other highlights a surge in certificate-of-origin issuance for goods exported under preferential trade agreements. Both reports underscore the island province's efforts to attract enterprises and boost foreign trade through targeted incentives.
Key claims
Hainan exempted imported goods worth 12.1 billion yuan from customs duties over the past five years, saving importing companies 920 million yuan.
The duty exemption benefited 11 industries producing high value-added goods, including pharmaceuticals, medical equipment manufacturing, food processing, rubber production, and plastics manufacturing.
Exemptions applied to goods containing imported components that, after processing in Hainan, achieved a value-added share exceeding 30%.
Hainan transitioned to an offshore customs regime on December 18 of last year.
Hainan customs issued over 7,500 certificates of origin for goods in January-June, with a total value exceeding 4.56 billion yuan ($670 million).
A significant share of certificates was issued for goods destined for ASEAN member states and RCEP countries.
More than 1,700 certificates issued in the first half of the year covered goods exported under the China-ASEAN Free Trade Agreement, marking a 20% year-on-year increase in volume and a 60% increase in declared value to 1.95 billion yuan ($287 million).
Perspectives
No distinct named perspectives were present in the provided material.
How this outlet told it
TASS — English
Framing: Economic development — Positive
Facts Included:
Hainan Province exempted imported goods worth 12.1 bln yuan from customs duties over the past five years
Duty exemptions saved importing companies 920 mln yuan over the period
Preferential policy benefited 11 industries producing high value-added goods
Exemptions applied to goods with imported components that achieved a value-added share exceeding 30%
Hainan transitioned to an offshore customs regime on December 18 of last year
Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status counts the distinct outlets we found asserting it — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.
Claim
Confidence
Status
ClaimHainan Province exempted imported goods worth 12.1 bln yuan from customs duties over the past five years. This exemption enabled importing companies to save 920 mln yuan over the period.
ClaimThe exemptions applied to goods containing imported components that, after processing in the province, achieved a value-added share exceeding 30%.
ClaimA significant share of the certificates was issued for goods destined for member states of the Association of Southeast Asian Nations (ASEAN) and countries participating in the Regional Comprehensive Economic Partnership (RCEP).
ClaimMore than 1,700 certificates issued by Hainan customs during the first half of the year covered goods exported under the China-ASEAN Free Trade Agreement, with a 20% year-on-year increase.