The General Plan for China (Hainan) Free Trade Pilot Zone was issued by the State Council on Oct 16 to promote high-standard and high-quality reform and opening-up of Hainan FTZ.
China has unveiled a new plan to build Hainan into a pilot free trade zone with upgraded trade facilitation, where market access will be substantially expanded for foreign companies.
Hainan has attracted a large number of well-known domestic and foreign conglomerates to operate their businesses in the region amid a new round of investment and an industrial boom since April, according to the local government.
Hainan province broke the record for investing in foreign countries in the first three quarters this year with a gross amount of $2.22 billion spent, ranking 7th domestically.
China aims to establish a free trade zone in Hainan province by 2020, and a free trade port there by 2025 as part of the most proactive opening-up strategy of the past 40 years. The island is expected to become one of the most important gateways to the Pacific and Indian oceans, according to the government.
The Hainan Provincial Regulations on Crop Seed Management came into effect on Nov 1, highlighting the development and supervision of southern seed breeding activities, according to officials with the Hainan provincial department of agricultural and rural affairs.
The 2018 World Tourism and Investment Conference will be held in Haikou, capital of Hainan Province in south China, from Nov 23 to 27, the provincial government has said.
