Investment policy system for Hainan FTP taking shape

A photo of Sanya Central Business District. [Photo/hnftp.gov.cn]

The initial structure of the Hainan Free Trade Port investment policy system has been established, according to a press conference held by the Ministry of Commerce on May 27.

Hainan FTP has rolled out 28 policies to promote free and convenient trade, making the island province a pilot zone for comprehensively deepening the innovative development of the service industry.

In terms of investment, a comprehensive pilot plan to support the expansion of Hainan's service industry was formulated; 22 special measures to ease market access were put forward, covering five major fields including medical care, finance, and culture. Only 27 restrictive measures have been retained, and more arrangements have been made in the fields of mining and automobile manufacturing to open the market wide to the outside world.

The island province successfully hosted the first China International Consumer Products Expo in May, which is one of the best of Hainan's strategies in the construction of open platforms.

These policies and measures will promote the liberalization of Hainan's trade and investment, function as a test for future island-wide customs clearance operations, and lay a solid foundation for the further construction of the Hainan FTP.

Next, Hainan will explore ways of further optimizing its regulatory policies for the import and export of goods and articles in specific areas, while promoting the introduction of a negative list for Hainan's cross-border service trade and leading the country in sorting out - and regulating - the things that hamper the freedom and convenience of the service trade in key areas.

In terms of investment, the existing opening-up measures will be better implemented in order to guide more multinational companies to establish their regional headquarters in the Hainan FTP.