China Offers Zero Tax on Eligible Machinery Imports for Hainan

Machinery imported into and used by qualified companies in China’s Hainan free trade zone will be exempt from customs duties, value-added taxes and consumption taxes under a policy detailed by the provincial government.

China’s Ministry of Finance said Sunday that the policy aims to specifically encourage imports of machinery related to various types of industrial processing, battery manufacturing, and hyrdo-electric power, as well as medical health, cultural and sports-related equipment.

• The policy for the southern island province covers all authorized production machinery.
• The equipment cannot be imported for resale, although companies that go bankrupt will be allowed to apply to ...