HAIKOU, April 10 (Xinhua) -- During the 14th Five-Year Plan period (2021-2025), the policies of the Hainan Free Trade Port (FTP), including zero tariffs and tariff exemptions on value-added processing, have saved market entities more than 80 billion yuan (about 11.65 billion U.S. dollars) in taxes, fees and rebates, according to a press conference held Friday in Haikou, capital of south China's Hainan Province.

Through a series of measures to liberalize and facilitate commerce, Hainan has made progress in ensuring the free flow of trade, investment, cross-border capital, personnel and transport, Guan Jirong, a senior official of the province, said at the press conference.

From 2021 to 2025, the foreign trade in goods of Hainan's enterprises exceeded 1 trillion yuan for the first time, an increase of 19.2 percent compared with the previous five-year period. The province also achieved the nation's highest level of openness to foreign investment access, attracting investment from 180 countries and regions.

Guan said that the Hainan FTP will work at a rapid pace to build a globally competitive tax system during the 15th Five-Year Plan period (2026-2030). The province plans to expand the scope of zero-tariff goods as part of the reform, introduce a positive list for inbound goods consumed by island residents, and further lower tax rates.

The Hainan FTP, the world's largest free trade port by area, fully launched island-wide special customs operations in December last year.

Under the new rule, the "first line" linking Hainan with overseas markets allows most imported goods to enter tariff-free with faster clearance, while the "second line" between Hainan and the mainland applies standard customs oversight. ■