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Invest in Hainan, high end food processing

Development basis for Hainan’s high end food processing industry

Hainan has abundant raw materials for high end food production

Hainan is rich in tropical fruits and vegetables such as pineapple’s, coconuts and mango, providing a local resource base for the processing of agricultural and sideline products.

“Zero-tariff” for raw materials as well as food and production equipment cuts production costs

Except for commodities on the prohibited for import list, Hainan operates a list management of “zero tariffs” and exempts import duties, import value-added tax and consumption tax for imported raw materials as well as auxiliary materials for food production and processing as well as production equipment for self-use.

This has the effect of significantly cutting production costs for food processing enterprises.

MFN tariffGenera tariffFree Trade Port tariff
Fresh and cold beef20%70%0%
Natural honey25%80%0%
Cave nest bird’s nest soup25%80%0%
Cocoa butter22%70%0%
Examples of policy benefits

Value-added processing, policy benefits for enterprises

For encouraged industries such as high-end food production without imported materials or imported materials with (including) 30% value-added processing, shipping to mainland China shall be exempt from import duties and import value-added tax & consumption tax

This policy will be implemented first at the Yangpu bonded zone

Key areas for investment in Hainan’s high end food processing industry

Processing of agricultural and side-line products
Snack food processing

Recommended locations for investment in Hainan’s high end food processing industry

Haikou Integrated Bonded Zone
Haikou Jiangdong New District
Yangpu Economic Development Zone
Haikou National Hi-tech Industrial Development Zone
Sanya Yazhou Bay Science and Technology City

Related article: Interview with Ambassador of Ireland to the People’s Republic of China, Ann Derwin on the Hainan Expo and FTP

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