Understand Hainan'S Export Advantage Products List Under RCEP

Haikou, November 17, Xinhua (reporter Wu Maohui) which tax rate is more preferential between the regional comprehensive economic partnership agreement (RCEP) and the regional bilateral free trade agreement? After RCEP comes into effect, what are the advantages of "zero tariff" policy of Hainan free trade port? On the 17th, the Department of Commerce of Hainan Province released the "three lists" of Hainan's import and export advantageous products to help enterprises further tap the dividend of RCEP tariff reduction and give full play to the superimposed effect of RCEP and Hainan free trade port policy.

The "three lists" are Hainan's export advantage products list under RCEP, Hainan's import advantage products list under RCEP and Hainan free trade port's "zero tariff" advantageous products list. According to the person in charge of Hainan Provincial Department of Commerce, these lists can help enterprises more efficiently lock in the optimal "tariff reduction" content and the most "affordable" products.

The list of Hainan export advantage products under RCEP sorted out 695 categories of products with export advantages (lower export tariff) under RCEP, and 241 categories of products with import advantages (lower import tariff) under RCEP. There are two industry related products in Hainan.

Hainan free trade port has a "zero tariff" policy originally, which is implemented through list management. The list of "zero tariff" advantageous products of Hainan free trade port released this time has sorted out 1674 products with more advantages than those under RCEP. Among them, there are 92 categories of transportation and yachts, 241 categories of raw and auxiliary materials, and 1341 categories of self-use production equipment.

It is understood that since RCEP came into effect, Hainan and RCEP member countries have enjoyed a good momentum of investment and trade. In terms of trade, in the first three quarters, the import and export volume of goods between Hainan and RCEP members was 51.44 billion yuan, up 24.2% year on year. In terms of investment, in the first three quarters, Hainan added 31 new investment filing enterprises to RCEP Member States, with an actual investment of 383 million US dollars; At the same time, Hainan has attracted 70 million US dollars from RCEP Member States and set up 141 foreign-funded enterprises.