China plans to pilot international high standards and promote institutional opening-up in some eligible free trade zones and Hainan Free Trade Port, according to a circular released by the State Council on June 29.

In order to promote the innovative development of goods trade, pilot regions will be supported to carry out imports of re-manufacturing goods in key industries, said the circular, adding that aircraft, ships and relevant parts and components transported into the pilot areas after undergoing temporary repair from overseas are exempted from customs duties, regardless of whether they are value-added or not.

For goods that have arrived and with information required for customs clearance submitted, the customs in the pilot areas should release them within 48 hours as far as possible, under the premise of complying with relevant laws and regulations and completing the necessary quarantine procedures.

Efforts will be made to facilitate service trade, including allowing foreign financial institutions in the pilot areas to provide similar services as their Chinese counterparts except specific new financial services, the circular said. Meanwhile, professional personnel from overseas will be encouraged to provide services for enterprises and citizens in the pilot areas.

The circular noted facilitating temporary entry of business personnel. For experts who get job transferred within foreign-invested enterprises in the pilot areas, their spouses and other family members could enjoy the same entry and temporary stay period as the experts.

The healthy development of digital trade will be boosted, according to the circular.

Business environments will be further optimized, said the circular, adding that pilot areas should allow the real and legal investment of foreign investors to be smoothly transferred without delay.

The circular also highlighted improving risk prevention and control systems.