Hainan on track with free trade port goal

By MA ZHIPING in Haikou | China Daily | Updated: 2022-07-12 07:34 Aerial photo taken on Sept 5, 2021 shows the scenery in Haikou, South China's Hainan province. The Hainan Free Trade Port has adopted more than 180 policy documents to widen market access and promote trade facilitation and liberalization, the province's top official said on Monday. Shen said, "Looking back at the past 10 years, the biggest theme of Hainan's development has been comprehensively deepening reform and opening-up, and the primary highlight is the construction of the Hainan Free Trade Port". The promulgation and implementation of the Hainan Free Trade Port Law and a number of other key policy documents have together built a free trade port policy system for Hainan that is characterized by "zero tariffs, a low tax rate and simple tax system", and the free and convenient flow of trade, investment, cross-border capital and personnel, as well as the safe and orderly flow of data. By 2025, the Hainan Free Trade Port will adopt an import and export management system featuring free flow between the "first line", the boundary between the Hainan Free Trade Port and other regions and countries outside China's customs territory, and the "second line", which connects the island to other areas within China's customs territory, with efficient controls, Feng said.