Member's Article: Investment Opportunities of Hainan Free Trade Port
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On June 1, 2020, the CPC Central Committee and The State Council issued the General Plan for the Construction of Hainan Free Trade Port (“General Plan”). Then “Hainan Free Trade Port" has quickly become a hot topic of public opinion and continued to attract more attention. After that, in June 2021, the Standing Committee of the National People's Congress passed the Hainan Free Trade Port Law, which provides a legal guarantee for the construction and development of the Hainan Free Trade Port from the aspects of trade freedom, investment freedom and convenience, fiscal and tax system, ecological environmental protection, industrial development and talent support.
The natural and industrial characteristics of Hainan determine the development direction of the Hainan Free Trade Port. The Hainan Free Trade Port is not just to become a new economic growth pole for China, or to become the second Hong Kong, instead, it shall be built into an international free trade port that develops service industry to carry out service trade and meet consumer demand.
The promulgation of the General Plan and the Hainan Free Trade Port Lewis is conducive to creating a first-class business environment for legalization, internationalization and facilitation of Hainan Free Trade Port to further enhance the determination and confidence of enterprises, especially foreign-invested enterprises, to cultivate Hainan in the long term. Next, we will briefly analyze the advantages of foreign investment in the Hainan Free Trade Port from four aspects: foreign exchange, taxation, talents, and land use.
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