Forwarding, Freight News, Logistics

Kerry to open duty free zone

[ December 16, 2020   //   ]

Kerry Logistics Network is to develop a bonded logistics centre in the Haikou Integrated Free Trade Zone in Hainan Free Trade Port in China. The 50,000sq m facility, expected to be complete in early 2023, will include 10,000sq m of cold storage. In the future, imported goods bought by Hainan residents will be exempt from import tariffs, VAT and sales tax. Imported goods with over 30% value-added processing in the FTP will be exempt from tariffs when sold to other areas in Mainland China.