Freeport in China

China's free ports are Hongkong and Macau.

/kloc-In the 3rd century, France opened the port of Marseille as a free trade zone. 1547, Genoa officially named Li Nana Port in Genoa Bay as the first free port in the world. In order to expand international trade, some European countries have successively opened some port cities as free ports. So far, in order to cope with global trade activities and economic development, the number of free ports has risen to more than 130.

Free ports are divided into complete free ports and limited free ports according to trade control. The former implements duty-free import and export of all commodities, while the latter imposes a small amount of tariffs on a few commodities with certain trade restrictions. Freeport is mainly engaged in entrepot trade.

Some free ports and non-free ports are clearly defined, while others are not. Some bonded areas not located in the port area are engaged in processing, tourism, service and other industries in addition to entrepot trade. Opening a free port can expand entrepot trade, obtain various trade expenses and expand foreign exchange income.

Extended data:

According to the degree of restriction, it can be divided into complete free ports and limited free ports. The former exempts all foreign goods from customs duties, which is one of the few in the world now; The latter only imposes tariffs on a few designated export commodities or imposes different degrees of trade restrictions, and other commodities can enjoy duty-free treatment. Most free ports in the world fall into this category, such as Gibraltar, Hamburg, Hong Kong, Singapore, Penang and Djibouti.

According to its scope, it is divided into free port cities and free port areas. The former includes all areas of the port and its city, and is classified as a non-tariff zone. Foreign businessmen can freely reside and engage in related businesses, and all residents and tourists enjoy preferential tariffs, such as Singapore and Hong Kong. The latter only includes a part of the port or the city where it is located, and foreign businessmen are not allowed to live freely, such as Copenhagen.

References:

Baidu encyclopedia-Freeport