In a key move to streamline customs oversight ahead of its full customs closure, Hainan Free Trade Port (FTP) has launched a new “One Company, One Ledger” system to track zero-tariff imports. The system is part of a broader smart customs initiative to regulate tax-free goods with more precision, speed, and transparency.

Haikou Customs recently released the official Administrative Measures for Ledger Management of “Zero-Tariff” Goods, laying the groundwork for how businesses importing tariff-free goods into the island will be monitored.

Why It Matters

Under Hainan’s free trade model—designed around the principle of “frontline liberalization, second-line control, and on-island freedom”, tariff-free imports are allowed from abroad, but their use, movement, and eventual destination must be strictly monitored. The new ledger system is designed to strike that balance.

What’s Changing?

One Enterprise, One Digital Ledger

Every company benefiting from zero-tariff policies will now have a dedicated digital ledger within Hainan’s smart customs platform. This ledger tracks the entire life cycle of imported goods, from arrival and processing to storage, transfers, and conversion into domestic trade.

Sub-Ledgers by Type

Companies will also maintain sub-ledgers depending on the type of goods: e.g., separate ledgers for equipment, raw materials, logistics, or processing. These allow customs to verify consumption, usage, and compliance more effectively.

Clear Rules for Goods Movement

The system lays out clear procedures for:

Direct and indirect release of goods upon import
Export abroad
Transfers between qualifying companies
One-way transfers to bonded warehouse accounts (such as the Golden Customs II system)
Conversion into the domestic market

Smart Automation Built-In

Endorsement lists for additions or removals from the ledger will be automatically generated. Companies can adopt different accounting methods, like consumption rates or work orders, similar to bonded processing zones. Customs will also be able to carry out audits, inspections and post-clearance audits through the platform.

Connected Systems, Smarter Regulation

The ledger management system will connect with other government systems for risk control, customs clearance, tax collection, and post-clearance audits. That allows multiple agencies to supervise and coordinate in real time.

Crucially, this system is not just a digital copy of existing bonded goods protocols. Zero-tariff goods in Hainan cover a broader range, including equipment and vehicles, and are governed by different rules. The new Measures create a tailor-made framework for Hainan’s unique model.

Bottom Line

As Hainan prepares to become fully customs-sealed across the entire island, this “One Company, One Ledger” system is a major step toward smarter, more coordinated trade oversight. For businesses, it means more compliance responsibilities, but also clearer rules, faster processing, and hopefully .... fewer delays.