A 20-item plan proposed for building the Hainan free trade port
China Watch |
Updated: 2018-06-28 14:43
The China Institute for Reform and Development (CIRD) proposed a 20-item proposal on June 27 relating to build the Hainan free trade port, echoing the State Council’s guidelines for deepening reform and opening-up in Hainan, unveiled on April 14, and President Xi Jinping’s speech on April 13 to mark the 30th anniversary of the establishment of Hainan province.
The proposal is unveiled at the launching ceremony of the China Institute for Free Trade Port Studies. Photo courtesy of CIRD
According to the plans, different industries will be planned in different parts of Hainan Island considering local characteristics. New breakthroughs are expected in tourism and the modern service sectors.
Last year, the service industry contributed 55.7 percent of Hainan’s GDP, and it will still be a dominant industry in the free trade port, the plans said, which called on the province to actively take part in regional service trade negotiations and rule-making.
Aiming to become an “international center for tourist consumption”, Hainan will open its service market wider, and provide internationalized products and services. The plans suggest cooperating with Hong Kong to establish a duty free shopping chain, develop cruise routes with Sanya as a homeport, and promote new-energy vehicles across the island.
The business climate will be optimized in Hainan, featuring a simplified tax system and company registration system, as well as professional services such as accountancy and intellectual property protection.
The plans called for reforms in human resource management, allowing more flexible work visas to be issued to attract international personnel. The province will also introduce high-end education and research institutions from around the world.
The plans also proposed to vest Hainan with greater local legislative power.
The China Institute for Free Trade Port Studies -- a think tank providing intellectual support for the Hainan government to build the free port -- was unveiled on the same day.
Approved by the provincial government on May 9, the institute was initiated by the CIRD and jointly built by the National Institute for South China Sea Study, Hainan University and Hainan Normal University.
Hainan Governor Shen Xiaoming commented that the institute was founded “at the right time with great responsibility”.
The institute’s president Chi Fulin, who is also president of the CIRD, said at the unveiling ceremony that the institute, as a platform for research and exchange, will focus on theoretical and policy studies on the Hainan free trade zone and free trade port.
At the institute’s first academic council conference on May 20, Wei Jianguo, vice-chairman of the board at the China Center for International Economic Exchanges and a former vice-minister of commerce, was elected as head of the academic council, while Chi and Fan Hengshan, deputy secretary-general of the National Development and Reform Commission were elected as deputy heads.
The CIRD will take charge of the new institute’s operation and management, as approved by the Hainan government. Research and study results will be provided to the provincial government directly, Chi said at the conference.
The China Institute for Reform and Development (CIRD) proposed a 20-item proposal on June 27 relating to build the Hainan free trade port, echoing the State Council’s guidelines for deepening reform and opening-up in Hainan, unveiled on April 14, and President Xi Jinping’s speech on April 13 to mark the 30th anniversary of the establishment of Hainan province.
The proposal is unveiled at the launching ceremony of the China Institute for Free Trade Port Studies. Photo courtesy of CIRD
According to the plans, different industries will be planned in different parts of Hainan Island considering local characteristics. New breakthroughs are expected in tourism and the modern service sectors.
Last year, the service industry contributed 55.7 percent of Hainan’s GDP, and it will still be a dominant industry in the free trade port, the plans said, which called on the province to actively take part in regional service trade negotiations and rule-making.
Aiming to become an “international center for tourist consumption”, Hainan will open its service market wider, and provide internationalized products and services. The plans suggest cooperating with Hong Kong to establish a duty free shopping chain, develop cruise routes with Sanya as a homeport, and promote new-energy vehicles across the island.
The business climate will be optimized in Hainan, featuring a simplified tax system and company registration system, as well as professional services such as accountancy and intellectual property protection.
The plans called for reforms in human resource management, allowing more flexible work visas to be issued to attract international personnel. The province will also introduce high-end education and research institutions from around the world.
The plans also proposed to vest Hainan with greater local legislative power.
The China Institute for Free Trade Port Studies -- a think tank providing intellectual support for the Hainan government to build the free port -- was unveiled on the same day.
Approved by the provincial government on May 9, the institute was initiated by the CIRD and jointly built by the National Institute for South China Sea Study, Hainan University and Hainan Normal University.
Hainan Governor Shen Xiaoming commented that the institute was founded “at the right time with great responsibility”.
The institute’s president Chi Fulin, who is also president of the CIRD, said at the unveiling ceremony that the institute, as a platform for research and exchange, will focus on theoretical and policy studies on the Hainan free trade zone and free trade port.
At the institute’s first academic council conference on May 20, Wei Jianguo, vice-chairman of the board at the China Center for International Economic Exchanges and a former vice-minister of commerce, was elected as head of the academic council, while Chi and Fan Hengshan, deputy secretary-general of the National Development and Reform Commission were elected as deputy heads.
The CIRD will take charge of the new institute’s operation and management, as approved by the Hainan government. Research and study results will be provided to the provincial government directly, Chi said at the conference.
