What is a free port? What are the free ports?

The so-called "free port", the full name is "free trade port", simply speaking, is a port or seaport city where goods can freely enter and leave without imposing tariffs.

The familiar free ports are Thailand and Hong Kong.

Take Hong Kong as an example. The content of free port policy is mainly manifested in three aspects: freedom of trade, freedom of enterprise operation and freedom of exchange. For example, trade freedom does not provide any preferential and privileged protection for the export of Hong Kong products; There are no tariffs on imported goods and general goods; Its import and export trade procedures are very simple, generally only need to declare the import and export of goods within 14 days, without prior approval. Therefore, the development of Hong Kong has such a logical relationship: the free port policy has reduced the transaction cost, and the low transaction cost has promoted trade, which has promoted the opening up, attracted foreign investment, and promoted the rise of shipping, shipbuilding, warehouses, hotels, restaurants, commerce and banks, which in turn provided sales channels and markets for industrial development and promoted the transformation of Hong Kong from entrepot trade to "processing trade".

Of course, according to different countries and regions, the "freedom" of free ports in different countries is also different.