Wang Changlin, Vice Director of the National Development and Reform Commission: The tax incentives for both enterprises and individuals are continuously increasing.

Wang Changlin, deputy director of the National Development and Reform Commission, stated that since the official release of the "Overall Plan for the Construction of Hainan Free Trade Port" in June 2020, a number of landmark and pioneering innovative measures have been introduced, and the institutional system of the free trade port policy has been preliminarily established. Progress has been made in accelerating the opening up of the three major areas of trade in goods, trade in services, and investment. Policies including "zero tariffs" on imported raw materials, transportation vehicles, yachts, and self-use production equipment have been formulated, the first national negative list for cross-border service trade has been implemented, 22 special measures to relax market access have been introduced, and the level of openness of the negative list for foreign investment access is the highest in the country. Both tax incentives for companies and individuals have been continuously increased. The "double 15%" tax rate preferential policy for enterprise and individual income taxes has been implemented, with accumulated tax reductions exceeding 31 billion yuan and 17 billion yuan respectively. The pilot scope of the processing value-added tax exemption policy has expanded to the entire island. The duty-free shopping quota for island departures has increased to 100,000 yuan per person per year.