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HONG KONG SAR\u00a0–\u00a0Media OutReach<\/a>\u00a0– 16 December 2020 –\u00a0Kerry \u00a0<\/p>\n China’s State Council announced the “Master Plan for the Construction of \u00a0<\/p>\n Since July 2020, Hainan Island’s annual tax-free shopping quota has been \u00a0<\/p>\n Kerry \u00a0<\/p>\n William Ma, Group Managing Director of Kerry Logistics Network, said, HONG KONG SAR\u00a0–\u00a0Media OutReach\u00a0– 16 December 2020 –\u00a0Kerry Logistics Network Limited (‘Kerry Logistics Network’; Stock Code 0636.HK) announced today the development of a bonded logistics centre in the Haikou Integrated Free Trade Zone (‘Haikou FTZ’) in the Hainan Free Trade Port (‘Hainan FTP’) to support the Chinese government’s new policy. The 50,000 sq m (538,200 …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10249"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=10249"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10249\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=10249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=10249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=10249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nLogistics Network Limited<\/a> (‘Kerry Logistics Network’; Stock Code 0636.HK)
\nannounced today the development of a bonded logistics centre in the Haikou
\nIntegrated Free Trade Zone (‘Haikou FTZ’) in the Hainan Free Trade Port
\n(‘Hainan FTP’) to support the Chinese government’s new policy. The 50,000 sq m (538,200 sq ft) facility, expected to complete in 2023
\nQ1, will contain 10,000 sq m (107,600 sq ft) of cold store. Kerry Logistics
\nNetwork is the first international 3PL to invest and build a premium bonded
\nlogistics centre in the Hainan FTP.<\/p>\n
\nHainan Free Trade Port” in June 2020, intending for it to be a
\nglobally-significant free trade port by 2050 and the largest free trade zone in Mainland China. To support the development of the tourism,
\ne-commerce and logistics industries in the Hainan FTP, a zero-tariff regime
\nwill be established for the trade of goods in which certain categories of
\nimports are entitled to zero-tariff treatment. In the future, imported goods
\nbought by Hainan residents will be exempt from import tariffs,
\nvalue-added tax and sales tax.\u00a0Imported goods with over 30%
\nvalue-added processing in the FTP will be exempt from tariff when sold to other
\nareas in Mainland China.<\/p>\n
\nincreased from RMB 30,000 per person per year to RMB 100,000 per person per
\nyear, which drove up the duty-free sales in that month by 234.2% year-on-year.
\nTotal amount of duty-free sales during Mainland China’s National Golden Week in
\nOctober 2020 has risen by 148.7% year-on-year to RMB 1.04 Billion.<\/p>\n
\nLogistics Network is well-positioned to capture this growth as it has been the
\nlogistics partner of two existing duty-free shopping centres in Hainan since
\n2011 and has recently been contracted to provide logistics services to three
\nnewly-registered duty-free shopping centres. It has a long-established presence
\nof over three decades in Hainan, having set up the Hainan branch in 1987 and
\ncommanding significant market share as the largest freight forwarder in Hainan.
\nThe Hainan branch has been accredited with Customs AEO Advanced Certificate and
\nis a Top National Customs Brokerage Company in Mainland China as well as the
\nonly National Standard Implementation Demonstration Unit for the “Customs
\nBrokerage Service Specification” in Hainan.<\/p>\n
\n“We are confident in the prospects of duty-free consumption in Hainan.
\nLeveraging Hainan province’s geographical advantage in South China and its
\nproximity to Southeast Asia, the Hainan FTP will be an important gateway to
\nhandle the fast-growing duty-free and inbound e-commerce cargoes. Our new
\nbonded logistics centre in Haikou FTZ will be instrumental in helping our existing customers to expand into the Hainan
\nduty-free sales channels and capture new business opportunities. As the logistics
\npartner of Hainan’s five duty-free shopping centres out of six in total, our
\nnew bonded logistics centre will significantly boost our capability to seize
\nthe tremendous opportunities presented by this new free trade zone and serve as
\na powerful engine to propel our growth.”<\/p>\n<\/p><\/div>\n\n
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