The Hainan Free Trade Port will launch island-wide independent customs operations Dec. 18, marking a significant milestone in the island’s transformation into a globally influential free trade hub, China’s top economic planner announced yesterday. Under the new policy, approximately 6,600 types of goods will be allowed into Hainan with zero tariffs. This tariff-free category will account for 74% of all taxable imports, a substantial increase from the current 21%. In addition to tariff reductions, Hainan will implement more relaxed trade regulations. Certain goods that are prohibited or restricted in the rest of China will be granted exemptions within the island | 