Local news portal ptnet.cn has listed important events in the development of the duty-free Taiwan Commodity Market, inaugurated in Pingtan last year.

Customers crowd the Pingtan-Taiwan Commodity Market, May 1. [Photo/ptnet.cn]

March, 2013

The Ministry of Finance approves preferential policies concerning transaction tax at the market. Six categories of Taiwan goods are exempt: oil and grain products, farm products, textiles and garments, artwork, light industrial products, and medicine.

June 17, 2014

The market officially goes into operation, becoming the second location in the Chinese mainland allowed to sell Taiwan-imported goods. It comprises 38 buildings in the Minnan folk style, divided into a duty-free zone, non-duty free zone and support function zone.

December 18, 2014

The market has imported goods worth $9.4 million from Taiwan over the past six months. The number of customers tops 154,000, and the business revenue tallies 52 million yuan. The market has opened a new chapter in cross-Straits trade and become a new calling card for Pingtan.

December 29, 2014

Zheng Weirong, deputy director of the Fujian Tourism Bureau, speaks highly of the market during his visit to Pingtan, and points out that the market will play an important role in boosting local tourism with a variety of Taiwan commodities and duty-free shopping.

January 28, 2015

More than 170 companies and self-employed individuals, more than half of whom are from Taiwan, have settled into the market. The number of customers throughout the first seven months of the market’s operation exceeds 162,000, with business revenue over 60 million yuan.

February 26, 2015

Over 12,000 people visited the market over first six days of the Chinese lunar New Year, leading to revenue of 1.1 million yuan.

March 21, 2015

Nearly 1,000 companies and self-employed individuals have settled into the market. The total number of visitors reached 211,000, leading to revenue of more than 120 million yuan.

April 21, 2015

Customers can exchange RMB to New Taiwan Dollars at the market.

May 4, 2015

Business grew significantly during May Day Holiday, surging to 5.5 million yuan over three days.

May 16, 2015

Li Dejin, secretary of the Pingtan Party Working Committee inspects the market and urges joint efforts to make it a successfully cross-Straits project.

May 22, 2015

Eight of Taiwan’s cities and counties open themed pavilions at the market and display their special goods ranging from farm products to light industrial products, and medicine.

June 3, 2015

Road conditions near the market are improved.

June 12, 2015

26 stores start business on one day alone. The market has imported Taiwan goods worth $50.8 million, and achieved 307 million yuan in sales revenue from June 2014 to May 2015.

June 14, 2015

Li Dejin and officials from customs and entry-exit inspection and quarantine authorities visit the market to investigate its development.

July 26, 2015

A total of 40 companies from Changhua county in Taiwan settle into the market. Ten of Taiwan’s 22 cities and counties have opened themed pavilions at the market.

July, 2015

Pingtan Customs announces that it has exempted about 116 million yuan in tax for the market since its inauguration more than one year ago. The value of imported goods tops $73 million yuan. More than 390,000 people have visited the market, driving the sales revenue to 402 million yuan.