Zero-Tariff Policy Boosts Hainan's Medical and Health Industry

Hainan's medical and health industry has seen significant growth since the "zero tariff" policy for imported pharmaceuticals and medical devices took effect. According to Haikou Customs, the total value of zero-tariff pharmaceutical and medical device imports has reached 225 million yuan, resulting in a cumulative tax reduction and exemption of 29.47 million yuan. This policy has also expanded the benefits for qualified medical institutions and other entities within the Boao Lecheng International Medical Tourism Pilot Zone, allowing them to import licensed pharmaceuticals and medical devices at zero tariff.

The "zero tariff" policy has already made a tangible difference in the lives of patients. For example, six-year-old Tiantian, diagnosed with deafness shortly after birth, received a high-quality cochlear implant at the Boao Super Hospital within the Boao Lecheng International Medical Tourism Pilot Zone. This implant, weighing only 7.6 grams, was imported at zero tariffs and has changed Tiantian's world and the lives of his parents.

The policy has been hailed as a success by medical institutions, with the Boao Super Hospital's Vice President, Liu Yue, stating that it will effectively reduce the cost of purchasing imported medicines and medical devices, allowing them to better benefit from Hainan's Free Trade Port policy. The hospital has already imported hundreds of products, including cochlear implants, and plans to introduce more advanced medicines and medical devices, making them more affordable and accessible to more patients.

Key Takeaways:

• The "zero tariff" policy for imported pharmaceuticals and medical devices has resulted in a total value of 225 million yuan in zero-tariff imports and a cumulative tax reduction and exemption of 29.47 million yuan.
• The policy has been extended to include medical institutions of higher learning and pharmaceutical research institutes, in addition to accredited medical institutions and other qualified entities.
• The zero tariff policy has reduced import tariffs and value-added tax on qualified pharmaceuticals and medical devices, resulting in significant cost savings for medical institutions and patients.
• The policy has already led to the importation of hundreds of products, including cochlear implants, at the Boao Super Hospital.
• The implementation of direct clearance for imported "zero-tariff" goods and bonded goods not subject to inspection, quarantine, or licensing has further streamlined customs clearance for goods.
• Officials estimate that the zero tariff policy will result in a reduction of approximately 195,000 yuan per item on imported medical devices and nearly 6,000 yuan per bottle on imported medicines.

Statistics:

• Total value of zero-tariff pharmaceutical and medical device imports: 225 million yuan
• Cumulative tax reduction and exemption: 29.47 million yuan
• Number of declaration items reduced: 105 to 33
• Import tariff on medical devices: approximately 3%
• Import value-added tax on medicines and medical devices: 13%
• Reduction in cost for medical institutions: approximately 195,000 yuan per item on imported medical devices
• Reduction in cost for patients: nearly 6,000 yuan per bottle on imported medicines

Sources:

• Hainan Provincial People's Government
• Haikou Customs
• Hainan Daily Omnimedia
• Boao Super Hospital
• Boao Lecheng International Medical Tourism Pilot Zone