Kerry Logistics Network Limited 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 sq ft) facility, expected to complete in 2023 Q1, will contain 10,000 sq m (107,600 sq ft) of cold store. Kerry Logistics Network is the first international 3PL to invest and build a premium bonded logistics centre in the Hainan FTP.
China’s State Council announced the “Master Plan for the Construction of Hainan Free Trade Port” in June 2020, intending for it to be a globally-significant free trade port by 2050 and the largest free trade zone in Mainland China. To support the development of the tourism, e-commerce and logistics industries in the Hainan FTP, a zero-tariff regime will be established for the trade of goods in which certain categories of imports are entitled to zero-tariff treatment.