Hainan Free Trade Port Market Entities Exceed 2 Million Households

“Since the implementation of the “Overall Plan for the Construction of Hainan Free Trade Port” for more than two years, relevant departments and Hainan Province have placed a prominent position on system integration and innovation, promoted various tasks with high quality and high standards, and promoted important progress in the construction of Hainan Free Trade Port.” At the press conference held by the National Development and Reform Commission on September 20, Huang Weiwei, deputy head of the comprehensive group of the Office of the Leading Group for Promoting Comprehensive Deepening of Reform and Opening up in Hainan, said that the free trade port policy system has been initially established. A series of policy measures have been formulated around trade, investment, cross-border capital flow, entry and exit of people, free and convenient transportation, and safe and orderly flow of data. For example, a list of “zero tariff” policies for imported goods with “one negative and two positives” for self-use production equipment, vehicles and yachts, and raw and auxiliary materials, a negative list for cross-border service trade, a negative list for foreign investment, and a 15% corporate and personal income tax have been introduced. Preferential policies and financial opening and other supporting policies, pilots of the import and export management system of “first-line liberalization and second-line control” and pilot data cross-border transmission security management have been carried out in key areas, all of which have provided institutional guarantees for the construction of free trade ports.

High Mast Lighting

Huang Microwave said that thanks to the dividends of the free trade port policy, the growth rate of foreign trade and foreign investment in Hainan has made a historic leap. In terms of trade in goods, it will increase by 57.7% in 2021, and the scale will exceed 100 billion yuan for the first time; in the first half of this year, it will increase by 56% year-on-year, 46.6 percentage points faster than the national growth rate, ranking second in the country. In terms of trade in services, it will grow by 55.5% in 2021, 39.4 percentage points faster than the national level. Major breakthroughs have been made in the utilization of foreign capital. In the past two years, the actual utilization of foreign capital has increased by 52.6% annually, and the number of newly established foreign-funded enterprises has increased by 139% annually.

In terms of market vitality, Huang Microwave said that the special measures to relax market access have been effective, enterprises are enthusiastic about investing in Hainan Free Trade Port, and market entities have increased rapidly. In the past two years, more than 1 million new market entities have been added, with a growth rate of 28 consecutive years. It has maintained the number one position in the country every month, and by the end of August this year, the number of surviving market entities has exceeded 2 million.

“The business environment of Hainan Free Trade Port is constantly improving.” Huang Microwave said that the Hainan Free Trade Port Law has been promulgated and implemented, and a number of regulations such as Hainan Province’s Interim Regulations on Anti-Smuggling and Tropical Rainforest National Park Regulations have been promulgated and implemented. The reform of the administrative system continued to deepen. The reform of “one seal for approval” achieved full coverage of cities, counties, and districts. The “single window” for international trade, investment, and talents was established. In the first half of the year, the import and export customs clearance time was reduced by 43.6% and 50.5% year-on-year, respectively. The items were expanded to 111 items. The protection of intellectual property rights has been continuously strengthened. The “Regulations on the Protection of Intellectual Property Rights of Hainan Free Trade Port” has been promulgated, and the Intellectual Property Court of Hainan Free Trade Port has been formally established.

Post time: Sep-23-2022