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Imports and exports in the first three quarters increased nearly 30% year on year, while Hainan’s foreign trade improved steadily

Hainan’s economic “report card” for the first three quarters of 2019 was released on October 23, and “overall stability, stability and progress” became the keynote of Hainan’s economic development in the first three quarters.

Imports and exports in the first three quarters increased nearly 30% year on year, while Hainan's foreign trade improved steadily
Imports and exports in the first three quarters increased nearly 30% year on year, while Hainan’s foreign trade improved steadily

It is worth mentioning that Hainan’s foreign trade has delivered a brilliant “answer sheet” in the same period-driven by the construction boom of Hainan’s free trade zone and free trade port, Hainan’s total import and export value reached 66.93 billion yuan in the first three quarters, up nearly 30% from the same period of last year (the same below). ASEAN, the United States and the European Union are the top three trading partners of Hainan province. The trend of improving quality while maintaining stability in foreign trade has been continuously consolidated, and the development potential has been continuously revealed. Foreign trade is playing a more fundamental and supporting role in stabilizing growth.

Import Growth Power Shift Upgrade Imports of Consumer Goods Grow Rapidly What kind of experience is it when you meet something you want to buy with both goods and discounts?

“Excitement!” On October 22, in Haikou Riyue Square duty-free shop, Guangdong tourist Ms. Wu quickly found the target goods she wanted to buy. She took a fancy to a longqin watch and a set of sisley skincare suit. the price of the watch was 10,850 yuan and the skincare suit was 1,091 yuan. after the tax-free shops paid the full amount of the travel tax and various promotional discounts for the watch, the amount of the two duty-free goods won was no more than 10,000 yuan, which made ms Wu feel “very valuable and must be bought.”

Abundant goods, various promotional activities and considerate shopping services have ignited the enthusiasm of many consumers to “buy in buy buy” and brought constant heat to duty-free shops.
“I remember that on the first day of the duty-free shop opening, during the morning shift, I alone generated about 160,000 yuan in merchandise sales at the front desk cashier.” Wei Yu, cashier at the Xianghua counter of Haikou Riyue Plaza duty-free shop, also said.

This is a microcosm of the accelerated release of tax-free shopping policy effects on Hainan’s outlying islands.

According to data provided by Haikou Customs, Hainan’s imports of consumer goods increased by 43.9% to 9.78 billion yuan in the first three quarters, accounting for 22.9% of the total value of Hainan’s imports during the same period, replacing aircraft as Hainan’s number one import. In addition, imports of some productive raw materials also maintained a relatively high growth rate. Among them, wood chips and wood grains for papermaking totaled 2.95 billion yuan, up 18.4%. Liquefied natural gas is 2.77 billion yuan, up by one time.

Import Growth Power Shifts and Upgrades, Consumer Goods Replaced Airplanes as Hainan’s Number One Imported Goods.

Relevant officials of Haikou Customs believe that the sharp increase in consumer goods imports is mainly due to the further adjustment and relaxation of the tax exemption policy for outlying islands and the accelerated layout of Hainan’s tax-free industry by China Exemption Group. In order to build Hainan into an international tourism consumption center, the tax exemption policy for Hainan’s outlying islands has been adjusted for the fifth time since December 2018. The policy adjustment includes increasing the amount of duty-free shopping per person on outlying islands from 16,000 yuan to 30,000 yuan, and not limiting the number of shopping trips, expanding the scope of application of the policy to passengers on outlying islands by boat, expanding the scope of duty-free goods, raising the amount and number of duty-free shopping for residents in the province to the same level as those for tourists outside the province, and adding two duty-free shops in Haikou and Boao.

As a result, in the first three quarters, Hainan Islands made 2.68 million tax-free purchases, up 29.7%, with 12.76 million purchases, up 29.2%, and the purchase amount was 9.26 billion yuan, up 28.4%. At the same time, China Exemption Group accelerated the layout of Hainan’s duty-free industry and set up an operation headquarters in Hainan to be responsible for the company’s national duty-free import business. With the acceleration of the construction of Hainan Free Trade Zone and Free Trade Port, Hainan’s consumer goods import is expected to continue to maintain a rapid growth in the future.

Relevant officials of Haikou Customs analyzed that since this year, Hainan’s foreign trade has become more diversified, with rental trade and duty-free trade growing strongly.

In the first three quarters, general trade remained Hainan’s most important mode of trade, with imports and exports totaling 22.71 billion yuan, up 10%, accounting for 33.9% of Hainan’s total foreign trade imports and exports during the same period. At the same time, leasing trade, duty-free goods and other trade methods showed a strong growth trend. Among them, the import and export of leasing trade reached 9.06 billion yuan, up 1.8 times. Tax-free imports totaled 7.6 billion yuan, up 60.2%.

Nearly 40% of imports and exports to countries along the “the belt and road initiative” route are from ASEAN, the United States and the European Union as Hainan’s top three trading partners In Hainan’s foreign trade structure, the oil and gas industry, as one of Hainan’s 12 key industries, has given full play to its leading role in Hainan’s foreign trade export.

According to statistics, in the first three quarters of this year, Hainan exported 12.4 billion yuan of refined oil, up 77%, accounting for 51.3% of Hainan’s total export value for the same period. Natural gas reached 590 million yuan, up 27.3%. Urea reached 510 million yuan, up 1.8 times.

According to relevant officials of Haikou Customs, in recent years, Hainan has continuously strengthened its capacity cooperation with ASEAN countries. ASEAN has gradually become the main export market for traditional products in our province, such as oil products, paper making and chemical enterprises that import raw materials from ASEAN countries and export finished products after processing. In the cargo structure of Hainan’s exports to ASEAN, the proportion of refined oil exports is prominent, which is Hainan’s number one export to ASEAN. Polyester chips have shown brilliant performance and gradually become emerging export commodities. Crude oil, finished paper, agricultural products and other traditional commodities followed.

Tilapia is the largest export agricultural product in Hainan and is also the traditional export business card of Hainan agricultural products. In the past 10 years, the total amount of tilapia cultivation in Hainan has stabilized at about 300,000 tons. Hainan tilapia has “toured” from Hainan to more than 50 countries and regions such as America, Europe, Asia and Africa. The annual output value of the industrial chain has reached 3 billion yuan, with an annual export volume exceeding 2 billion yuan, accounting for nearly 30% of the total export volume in the country.

Hainan Xiangtai Fishery Co., Ltd. is the largest tilapia processing enterprise in China. “In the first three quarters of 2019, the company exported about 21,500 tons of aquatic products, totaling about 359 million yuan.” The head of Xiangtai Fishery International Trade Department said that the company’s products are exported to 26 countries and regions such as the United States, Mexico, Russia, South America and Africa, depending on the scale, industrialization and complete management system to strictly control the quality. The export volume of tilapia from a single factory has ranked first in the country for 10 consecutive years.

Hainan tilapia, which “swims around” in more than 50 countries and regions around the world, has greatly enhanced Hainan’s foreign trade. In the first three quarters of this year, our province exported 2.6 billion yuan of agricultural products, up 11.1%, of which 2.29 billion yuan was exported from aquatic products, up 8.9%.

According to Haikou Customs statistics, in the first three quarters, the foreign trade import and export between Hainan and the countries along the “the belt and road initiative” was 25.45 billion yuan, up 14.6%, accounting for 38%. Among them, the import and export to ASEAN reached 19.41 billion yuan, up 52%, accounting for 29%. During the same period, the import and export of Hainan, the United States, Europe, Japan and other major traditional trading partners maintained a growth trend. Among them, imports and exports to the United States reached 12.7 billion yuan, up 45.1%. EU 9.56 billion yuan, up 7.6%; Japan 2.39 billion yuan, up 90%. In addition, imports and exports to Australia totaled 4.93 billion yuan, up 3.3 times.

Foreign-invested enterprises have become the main force of Hainan’s foreign trade, and the growth of state-owned and private enterprises is obvious. In the first three quarters, the import and export of foreign-invested enterprises in Hainan Province reached 39.1 billion yuan, up 14.8%, accounting for 58.4%. During the same period, private enterprises imported and exported 14.72 billion yuan, up 26.2%, accounting for 22%; The import and export of state-owned enterprises reached 13.11 billion yuan, up 95.9%.

Expand the scope of enterprises, expand the product spectrum, and further improve the level of trade facilitation.

The Yangpu Development Zone is extremely busy in autumn. At Xiaoshovel Beach Wharf in Yangpu Port, freighters loaded with containers slowly headed for the wharf against the setting sun. Near the quayside bridge, colorful containers are neatly stacked on the storage yard. Trailers come and go, and there is no end of traffic.

According to the “master plan for the new land and sea corridor in the west” released by the national development and reform Commission in August this year, the container throughput of Yangpu port will reach 1 million standard containers in 2020 and 5 million standard containers in 2025.
As Hainan’s main export base, Yangpu’s reform and development can be described as a one-off move: the port is Yangpu’s largest resource and the loudest business card. The bay here is wide and deep. It is the outlet of the new sea-land channel in the west, the strategic fulcrum of the Maritime Silk Road, the first petrochemical industry node where oil and gas resources from the Middle East and Africa enter China, and China’s shipping hub, logistics center and export processing base facing Southeast Asia.

In the development zone, Yangpu took the lead in setting up a “single window” for international investment in the whole province, providing all-round services such as enterprise registration, provincial investment filing, foreign exchange registration, project planning and construction, project land use, etc. To promote the “whole-process agency” system for investment and construction projects, to be the “bartender” of good service enterprises, to provide active service and free agency, and to provide maximum convenience for foreign investment.

In the port department, since this year, Haikou Customs has consolidated its achievements in reducing the overall customs clearance time in 2018 and has continued to deepen its business reform. The overall customs clearance time at Hainan Port has been greatly reduced in the first three quarters of this year.
In the financial field, the Hainan branch of the bank of China has recently successfully handled Hainan’s first single international trade “single window” cross-border remittance and account opening appointment for enterprises in our province, which marks the smooth launch of the “single window” financial service module for China’s international trade in our province and the overall upgrade of service functions.
A glimpse of a leopard in a tube. A series of policies and measures to improve the level of trade facilitation are exerting a superposition effect, in return for the steady improvement of Hainan’s foreign trade and the rapid pace of the construction of Hainan’s free trade zone and free trade port.

Officials from the Provincial Department of Commerce pointed out that Hainan must find ways to “expand the scope of enterprises and expand the product spectrum” so as to reduce its dependence on a single industry, a single enterprise and a single product and promote the steady growth of foreign trade. In particular, it is necessary to promote stable foreign trade while improving quality and speed up the improvement of trade facilitation.

Relevant officials of Haikou Customs said that the Customs will closely focus on the construction of a free trade experimental zone, a free trade port with Chinese characteristics and other major opening policies, focus on key foreign trade enterprises and Hainan characteristic industries, strengthen investigation and research, actively understand the difficulties encountered by enterprises in the process of production and operation, optimize the customs clearance environment and business environment, and help Hainan’s foreign trade to improve quality and efficiency, transform and upgrade.


Original Artical,Author:China Trade Agent,if repost,please give references :https://offers-bg.com/foreign-trade-improved-steadily/

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