ü "Yangpu Port of China" policy
1. Export tax rebates on domestically built ships that are registered at Yangpu Port of China and engaged in international transport. | Take "Yangpu Port of China" as the port of registry, simplify the inspection process, gradually liberalize the legal inspection of ships, establish the international ship registration center of Hainan free trade port, and innovate the establishment of convenient and efficient ship registration procedures. |
2. Allow ships (those engaged in domestic and foreign trade) that transit at Yangpu Port of China to refuel with bonded oil. | Under the premise of ensuring effective supervision and risk control, ships built within the territory of China registered in "Yangpu Port of China" and engaged in international transportation shall be regarded as exports and given export tax refund. |
3. Build Yangpu Port of China into an international port of registry. | Cancel the restriction of the foreign share ratio of the main body of ship registration. |
4. Adopt a trial policy of tax rebates at the port of departure on goods that use Yangpu Port of China as a transit port for the final departure from China. | 1. For the container goods that meet the conditions and transit through Yangpu Port and leave the country, the tax refund policy for the port of departure shall be tried out. 2. Speed up the integration of port and navigation in Qiongzhou Strait. |
5. Adopt an import & export management system featuring “free flow through the first line and efficient control at the second line” in Yangpu Bonded Port Area and other qualified zones. |
ü Transportation
1. Allow flights in and out of Hainan to refuel with bonded aviation fuel. | |
2. Remove restrictions on overseas ship and aircraft financing. | Explore to replace deposit with insurance to provide better and efficient financial services for ship and aircraft financing. |
3. Build an international aviation hub. | |
4. Expand air traffic rights, including the Fifth Freedom and Seventh Freedom. | |
5. Build a new international land and sea transport hub to connect Western China with the world. | Quicken the construction of a modern comprehensive transportation system, implement a highly free, convenient and open transportation policy, and realize free and convenient transportation. |
ü Trade
1. Conduct the negative list of cross-border trade in services for Hainan Free Trade Port. | |
2. Conduct the negative list of foreign investment access to Hainan Free Trade Port. | Implement the negative list management system for the national treatment of foreign investment before its entry, and substantially reduce the prohibitions and restrictions. |
3. Conduct the special list of market access to Hainan Free Trade Port. | |
4. Cross border trade review transformation. | Cross border trade and new type of international trade bank authenticity review: from pre review to post review. |
5. Establish a multi-functional free trade account system. |
ü Finance
1.Expand the scope of cross-border asset transfer. | In the field of cross-border financing, to explore the establishment of a new foreign debt management system, pilot the foreign debt management framework in the process of merger and transaction, improve the management of the registration system for the issuance of foreign debt by enterprises, comprehensively implement the macro Prudential Management of full caliber cross-border financing, and improve the level of foreign debt exchange facilitation. |
2. Allow enterprises listed overseas to handle foreign exchange registration directly at banks. | |
3. Support overseas securities, funds, and futures institutions to set up wholly-owned or jointly-owned institutes in Hainan. | |
4. Support the establishment of property insurance, life insurance and reinsurance companies, mutual insurance organizations and self-insurance companies. | |
5. Conduct cross-border asset management services. | Improve the exchange convenience of cross-border securities investment and financing. |
ü Foreign personnel management
1. Salary ranges employed as main indices to evaluate talents. | Establish a market-oriented talent mechanism to facilitate the entry and exit of foreign high-level talents in investment, entrepreneurship, lecture exchange, and economic and trade activities. |
2. Conduct a negative list management system on the issuance of work permits for foreign employees. | |
3. Permit foreign personnel to serve as legal representatives in legal bodies, public institutions and state-owned enterprises. |
ü Communication and knowledge industry policy
1. Establish Hainan International Intellectual Property Rights Exchange. | Carry out institutional innovation in the transfer, application and tax policies of intellectual property, and standardize and explore the securitization of intellectual property. |
2. Build a national base featuring China’s blockchain technology and industrial innovation. | |
3. Conduct services of online data processing and transaction processing. | Carry out online data processing, transaction processing and other businesses for the whole free trade port and internationally and gradually carry out business for the whole country under the premise of safety and control. |
4. Open up value-added telecommunications services. | Gradually lift restrictions on the proportion of foreign shares and expand the opening of communication resources and businesses in an orderly manner. |
5. Open up basic telecommunications services in a safe and orderly fashion. | |
6. Conduct the International Internet Data Interaction Pilot Project. |
ü Administration
1. Grant enterprises to get access to the market with a prior commitment. | Strictly implement the "non prohibited access", on the premise of "being able to manage", for the fields with mandatory standards, in principle, cancel the license and approval, establish and improve the filing system, and the market subject promises to meet the relevant requirements and submit relevant materials for filing, so as to carry out investment and business activities. From the time of receiving the filing, the filing accepting institution shall assume the responsibility of examination. |
2. Treat domestic and foreign enterprises as equals in government procurement. | |
3. Prioritize the support of listing Chinese enterprises overseas. | |
4. Decentralize the registration management of foreign debts issued by enterprises to Hainan. | |
5. Grant greater autonomy to various industry organizations. | Give more autonomy to industry organizations, give full play to their important role in the maintenance of market order, the formulation and implementation of standards, and the mediation of industrial disputes; give more grass-roots governance authority to communities, and accelerate community service and governance innovation. |
6. Formulate laws and regulations based on the reality of Hainan’s free trade port construction. | Based on Hainan pilot free trade port law, a legal system of free trade port is established, which is composed of local laws and regulations and commercial dispute settlement mechanism, to create a first-class legal environment of free trade port in the world. |
Giving Hainan Special Economic Zone a new mission of reform and opening up is a major national strategy that is personally planned, deployed and promoted by General Secretary Xi Jinping. The construction of the China (Hainan) Pilot Free Trade is a major decision made by the CPC's Central Committee and the State Council with a focus on the overall layout of international and domestic development after in-depth research, overall consideration and scientific planning, and it is also a major move to display China's determination to expand opening up and actively promote the economic globalization.
(References: Hainan Pilot Free Trade Port website、Master Plan for the Construction of Hainan Free Trade Port、Publishing date：2020-06-02
The People’s Government of Hainan Province website、60 selected policies of Hainan free trade port policy 、Publishing date：2020-06-01 19:54)
