China announced on Sunday that it will temporarily adjust the implementation of five administrative regulations in the pilot free trade zone (FTZ) of the southernmost province of Hainan to support its all-round reform and opening up.
The adjustments, effective from June 28, 2020 to Dec. 31, 2024, cover regulations on customs guarantees, tariffs, international maritime transport, inspection of ships and offshore facilities, as well as domestic waterway transport, according to a circular issued by the State Council.
Self-driving entry of overseas yachts will enjoy a guarantee-free policy in the Hainan FTZ, while the approval power concerning the operation of international passenger ships and international bulk shipping of hazardous liquid shall be delegated to the provincial transport department, the circular said.
After the adjustments, foreign ship inspection agencies will be allowed to provide classification services for Chinese ships that are registered in the Hainan FTZ and engaged in international voyages.
China announced plans in April 2018 to build a pilot FTZ covering the whole island and explore the establishment of a free trade port with Chinese characteristics.
