Source: China – South China Morning PostChina’s southern Hainan province implemented a separate customs regime on Thursday, as Beijing seeks to develop the island into an offshore financing and duty-free hub and position it as a strategic hedge against rising external trade barriers.
The new customs regime creates two distinct customs boundaries for Hainan: one separating the island from overseas markets, and another dividing it from the rest of mainland China.
Most overseas goods entering the island – which is roughly the size of…Read More