Savings of ¥613,000 on Hainan FTP's 1st "zero tariff" helicopter

On August 10, a helicopter purchased by Hainan Offshore Helicopter Co., Ltd., a general aviation company, was cleared by Haikou Port Customs in Hainan, China's southernmost province, making it the first "zero tariff" helicopter to enter the Hainan Free Trade Port. The purchasing company took advantage of the island's preferential zero-tariff policy to save 613,000 yuan (about $94,619) on the helicopter. 

(Photo: official WeChat account of “海南自由贸易港”)

To develop the tropical island province into a globally influential, high-level Free Trade Port by the middle of the century, Hainan's zero-tariff policy for vehicles and yachts was published on December 25, 2020, and remains effective until island-wide customs clearance comes into operation. The policy states that the customs duty, import VAT (Value Added Tax), and excise tax will be exempt for the 100 commodities listed in the policy, which includes passenger cars, trailers, aircraft, hot-air balloons, blimps, yachts, sailboats, and more, when they are imported for use in the transportation or tourism industry.