China to axe drug, device import tariffs in Hainan pilot zone to aid medical tourism
The initiative will be implemented in the Boao Hope Lecheng Medical Tourism pilot zone in eastern Hainan
China will eliminate tariffs on imported drugs and medical devices in a pilot zone on its southern island province of Hainan, aiming to further stimulate domestic and international medical tourism.
Exemptions would also apply to value-added tax (VAT) on imports before the island achieves independent customs operations in 2025, according to a statement issued on Thursday by China’s Ministry of Finance and four other ministries.
The initiative will be implemented in the Boao Hope Lecheng Medical Tourism pilot zone in eastern Hainan, which the central government aims to transform into a world-class international medical tourism destination by 2030.
Medical institutions, colleges of medicine and pharmaceutical research institutes in the zone will be able to purchase medicines or medical devices that have been approved by China.
In the pilot zone, drugs and medical devices that have not received central government approval, but have been granted approval by the Hainan government – excluding vaccines – will also be available for purchase tariff free.
However, imported products can only be used within the region for their designated purposes and cannot be transferred or taken out of the pilot zone by individuals or organisations, according to the statement.
