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International trade

Hainan Free Trade Port Offers Attractive Incentives for Ship Registration

Strategic Insights

— 1 min read

The Hainan Free Trade Port, a key economic zone in China, has introduced policies to attract shipping companies to register their vessels in the region. The "China Yangpu Port" is designated as the hub for ship registration, offering several incentives, including zero tariffs on imported ships, VAT rebates for domestically built ships, and tax-free fuel refueling for domestic and foreign trade. These benefits are aligned with the Hainan Free Trade Port shipping policies and the Yangpu Economic Development Zone's shipping support policies.

Key Takeaways:

  • The Hainan Free Trade Port has designated the "China Yangpu Port" as the ship registry port, offering attractive incentives to shipping companies.
  • Companies registering their ships in Yangpu can enjoy zero tariffs on imported ships, VAT rebates for domestically built ships, and tax-free fuel refueling for domestic and foreign trade.
  • The Hainan Maritime Safety Administration has issued several supporting policies, including the "Hainan Free Trade Port International Ship Registration Procedures" and "Foreign Nationals Participating in Hainan Free Trade Port Crew Training, Examinations and Applications for Crew Certificates Management Measures".
  • The Hainan Free Trade Port has established a supporting system for ship registration, inspection, quality management, and crew career development.
  • The CPC Central Committee and the State Council issued the "Overall Plan for the Construction of the Hainan Free Trade Port" in June 2020, proposing the development of the "China Yangpu Port" ship registry port.

Statistics:

  • Zero tariffs on imported ships
  • VAT rebates for domestically built ships
  • Tax-free fuel refueling for domestic and foreign trade
  • 3 stages of ship purchase, registration, and operation eligible for corporate income tax incentives
  • Hainan implemented the "Hainan Free Trade Port International Ship Regulations" in September 2021

Sources:

  • Hainan Provincial People's Government
  • Hainan Maritime Safety Administration
  • "Overall Plan for the Construction of the Hainan Free Trade Port"
  • "Hainan Free Trade Port International Ship Regulations" (September 1, 2021)
  • "Hainan Free Trade Port International Ship Registration Procedures"

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