The Ministry of Finance, together with the General Administration of Customs and the State Taxation Administration, released on February 14, 2022 the Circular (2022) No.4 of the MOF, GAC and STA to adjust the "zero-tariff" policy on self-used production equipment at the Hainan Free Trade Port. The move aims to further support the building of the Hainan FTP.
The Circular expands the list of "zero-tariff" commodities to add eight pieces of production equipment required in the culture, sports and tourism sector including merry-go-round, swings and rotary platforms, roller coasters, aquatic rides and amusement facilities to the production equipment as defined in Article 2 of the Circular (2021) No.7 of the MOF, GAC and STA. It also extends the scope of entities eligible for the policy, allowing public hospitals, research institutions to register at the Hainan FTP and applying the "zero-tariff" policy on public institutions with the qualification to run as independent legal persons for their self-used production equipment. The remaining provisions of the No.7 Circular would remain in force.