MOFCOM, the National Development and Reform Commission, the Ministry of Ecology
and Environment and CUSTOMS jointly issued a notice introducing measures to
deepen trade liberalization and facilitation at the Hainan Free Trade Port. The
notice backs consolidation of bonded and export-supervision warehouses for
gasoline, kerosene, diesel, fuel oil and naphtha in the Yangpu Economic
Development Zone under a supervisory model of two-category storage capacity,
total-volume approval, classified allocation and dynamic use. It launches a
pilot allowing imports of defective critical auto components for R&D and testing
in Hainan FTP. Contingent on the launch of LNG futures, it supports Hainan FTP
carrying LNG futures delivery-warehouse business, allows bonded delivery by
energy measurement and permits foreign firms to use bonded facilities at Hainan
LNG receiving terminals. The notice also permits an orderly rollout of new-type
barter trade in the Hainan FTP and encourages RMB pricing for such transactions.
