Issued by:    Ministry of Finance, General Administration of Customs, State Taxation Administration
Issue No.: Caiguanshui (2025) No.1
Release Date: January 24, 2025
Effective Date: February 1, 2025
Links: https://www.gov.cn/zhengce/zhengceku/202501/content_7001335.htm

The Notice adjusts the 'Zero Tariff' policy for raw and auxiliary materials in the Hainan Free Trade Port, which was promulgated in the document of Caiguanshui (2020) No. 42. The main contents are as follows:
a. The scope of 'Zero Tariff' goods has been expanded. The policy list now includes 297 additional items such as unbaked coffee, ethylene, machine parts, etc.
b. The Notice relaxes some policy restrictions, including: 

For entities that meet the conditions to enjoy the policy, if they transfer 'Zero Tariff' raw and auxiliary materials due to legal bankruptcy or other reasons, they will be exempt from import tariffs, value-added tax (VAT) and consumption tax at the import stage; 

Raw and auxiliary materials used for the repair of 'Zero Tariff' yachts and self-used production equipment will also be exempt from import tariffs, VAT and consumption tax at the import stage.