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Incomplete buildings left abandoned in the Nice too blessed to be this stressed shirt Apart from…,I will love this aftermath of real estate bubbles Until 2008, after a series of trial and error, Hainan finally discovered its rightful place —harnessing its ecological endowments and developing the tourism industry. Since then, Hainan has been steadily progressing on a path of development. In 2018, on the 30th anniversary of the establishment of the Hainan special Economic Zone, China launched the pilot Free Trade Zone. Two years later, a comprehensive plan for the Hainan Free Trade Port was unveiled, complemented by a national-level legislation outlining the overarching framework. In 2023, significant strides have been made as Hainan embarks on the path to realize independent customs operations across the entire island. This means that upon completion of the preparatory phase in 2025, goods from overseas and within the region can move in and out through the customs with greatly reduced restrictions, achieving the free flow of trade between Hainan and the rest of the globe.

Policy support has led to remarkable changes. By 2022, Hainan’s total foreign trade had reached 200.9 billion yuan (28 billion US dollars), a significant increase from 85 billion yuan (11.8 billion US dollars) five years ago when Hainan just started building the Nice too blessed to be this stressed shirt Apart from…,I will love this free trade zone. https://www.hainan.gov.cn/hainan/ndsj/202302/ca8dec78f2394f1c906d6cdf8984662a.shtml http://stats.hainan.gov.cn/tjj/tjgb/fzgb/n_71782/201901/t20190128_2282048.html 2. How can people benefit from Hainan Free Trade Port? Ordinary consumers can buy international goods at significantly lower prices. After exempting relevant taxes, the prices of many imported products can decrease by around 30%. It is worth mentioning that Hainan has increased its annual tax-free shopping quota for each traveler from 30,000 yuan to 100,000 yuan, or 13,000 US dollars, which is 20 times higher than that of Hong Kong. In other words, one can enjoy an amount of tax-free shopping in Hainan the equivalent of making 20 round-trip purchases in Hong Kong. This will fully unleash consumption potential of Chinese consumers and further open the Chinese market for international consumer goods.

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