Page 110 - 2019 Special Report on the State of Business in South China
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is the equivalent of World Bank’s 2019 business is located in the east coast of Haikou, with a total area
environment assessment index, including starting an of 298 square kilometers. It is divided into an eastern
enterprise, obtaining construction permits, obtaining ecological function area and a western integrated area
water, electricity and telecommunications services, of industries and urban facilities.
property registration, obtaining credit and improving
the financing environment, facilitating tax payment, On September 15, 2018, the Head Office of the
cross-border trade, protecting investors, implementing People’s Bank of China approved the establishment of a
contracts, bankruptcy services and building a service- free trade account system in Hainan, aiming to launch
oriented government. Specifically, it includes opening the system on January 1, 2019.
up key industries, abolishing the restrictions on foreign
investment in new energy automobile manufacturing, On October 16, 2018, the General Plan of China
allowing the establishment of foreign-invested literary (Hainan) Pilot Free Trade Zone was officially issued,
and artistic performance groups (Chinese holdings); stipulating that the pilot free trade zone covers the
allowing foreign investment in domestic Internet whole Hainan Island, dominated by the development of
virtual private network business (the foreign-invested tourism, modern service industry and high-tech industry.
share ratio does not exceed 50%), relaxing the foreign- By 2020, the free trade zone will achieve remarkable
invested share ratio of life insurance companies to 51%, progress in its construction, laying a solid foundation
and abolishing ratio restriction of foreign share-holding for steadily promoting the construction of Hainan Free
in new vegetable varieties breeding, seed production, Trade Port.
design, manufacturing and maintenance of ship and
aircrafts, international maritime transport companies As of November 2018, the pioneering pilot program
and international shipping agency companies. In of the HNFTZ has achieved phased progress: the basic
terms of improving the financing environment, further function construction of “single window” at the port
improve the financing environment by establishing has been preliminarily completed, and the business
a free trade account system in Hainan, relaxing the functions of declaration and regulation of import and
access restrictions of cross-border two-way RMB capital export of general goods, declaration and regulation of
pool, and establishing risk sharing mechanisms. At the means of transport (ships), declaration and regulation
same time, the Hainan Provincial Government plans of visa-free inbound tour groups, review of application
to commission a third party to assess the business for import and export licenses, payment and settlement,
environment in Hainan every year, and formulate an enterprise filing and information inquiry and the like
annual business environment plan to ensure that the have been basically realized.
business environment continues to improve.
Then, the HNFTZ will accelerate the construction
Special Economic Zones of a new open economy system from six aspects:
relax restrictions on market access of foreign capital
China (Hainan) Pilot Free Trade Zone to a great extent, improve trade facilitation, innovate
comprehensive trade regulation mode, promote
On April 13, 2018, General Secretary Xi Jinping trade transformation and upgrading, accelerate
solemnly announced, at a gathering for celebrating the financial opening-up and innovation, and strengthen
30th anniversary of the founding of Hainan Province international cooperation between countries along “the
and Hainan Special Economic Zone, the CPC Central Belt and Road”. In addition, the HNFTZ will accelerate
Committee decided to support Hainan in developing the the process of exploring and building free ports with
island into a pilot free trade zone. Chinese characteristics and make every effort to
promote relevant work.
On June 3, 2018, a press conference of the Haikou
Jiangdong New District of China (Hainan) Pilot Free On November 28, the first batch of construction
Trade Zone was held in Haikou, announcing to establish projects of Hainan Free Trade Pilot Area started and
Haikou Jiangdong New District as a key pioneer area contracts signed. The first batch of 100 start-up
for the construction of China (Hainan) Pilot Free Trade projects has a total investment of 29.8 billion yuan,
Zone and a centralized exhibition area for China (Hainan) and the 41 centrally contracted projects has a total
Pilot Free Trade Zone. Haikou Jiangdong New District investment of 34.2 billion yuan. Since April 2018, a
110
environment assessment index, including starting an of 298 square kilometers. It is divided into an eastern
enterprise, obtaining construction permits, obtaining ecological function area and a western integrated area
water, electricity and telecommunications services, of industries and urban facilities.
property registration, obtaining credit and improving
the financing environment, facilitating tax payment, On September 15, 2018, the Head Office of the
cross-border trade, protecting investors, implementing People’s Bank of China approved the establishment of a
contracts, bankruptcy services and building a service- free trade account system in Hainan, aiming to launch
oriented government. Specifically, it includes opening the system on January 1, 2019.
up key industries, abolishing the restrictions on foreign
investment in new energy automobile manufacturing, On October 16, 2018, the General Plan of China
allowing the establishment of foreign-invested literary (Hainan) Pilot Free Trade Zone was officially issued,
and artistic performance groups (Chinese holdings); stipulating that the pilot free trade zone covers the
allowing foreign investment in domestic Internet whole Hainan Island, dominated by the development of
virtual private network business (the foreign-invested tourism, modern service industry and high-tech industry.
share ratio does not exceed 50%), relaxing the foreign- By 2020, the free trade zone will achieve remarkable
invested share ratio of life insurance companies to 51%, progress in its construction, laying a solid foundation
and abolishing ratio restriction of foreign share-holding for steadily promoting the construction of Hainan Free
in new vegetable varieties breeding, seed production, Trade Port.
design, manufacturing and maintenance of ship and
aircrafts, international maritime transport companies As of November 2018, the pioneering pilot program
and international shipping agency companies. In of the HNFTZ has achieved phased progress: the basic
terms of improving the financing environment, further function construction of “single window” at the port
improve the financing environment by establishing has been preliminarily completed, and the business
a free trade account system in Hainan, relaxing the functions of declaration and regulation of import and
access restrictions of cross-border two-way RMB capital export of general goods, declaration and regulation of
pool, and establishing risk sharing mechanisms. At the means of transport (ships), declaration and regulation
same time, the Hainan Provincial Government plans of visa-free inbound tour groups, review of application
to commission a third party to assess the business for import and export licenses, payment and settlement,
environment in Hainan every year, and formulate an enterprise filing and information inquiry and the like
annual business environment plan to ensure that the have been basically realized.
business environment continues to improve.
Then, the HNFTZ will accelerate the construction
Special Economic Zones of a new open economy system from six aspects:
relax restrictions on market access of foreign capital
China (Hainan) Pilot Free Trade Zone to a great extent, improve trade facilitation, innovate
comprehensive trade regulation mode, promote
On April 13, 2018, General Secretary Xi Jinping trade transformation and upgrading, accelerate
solemnly announced, at a gathering for celebrating the financial opening-up and innovation, and strengthen
30th anniversary of the founding of Hainan Province international cooperation between countries along “the
and Hainan Special Economic Zone, the CPC Central Belt and Road”. In addition, the HNFTZ will accelerate
Committee decided to support Hainan in developing the the process of exploring and building free ports with
island into a pilot free trade zone. Chinese characteristics and make every effort to
promote relevant work.
On June 3, 2018, a press conference of the Haikou
Jiangdong New District of China (Hainan) Pilot Free On November 28, the first batch of construction
Trade Zone was held in Haikou, announcing to establish projects of Hainan Free Trade Pilot Area started and
Haikou Jiangdong New District as a key pioneer area contracts signed. The first batch of 100 start-up
for the construction of China (Hainan) Pilot Free Trade projects has a total investment of 29.8 billion yuan,
Zone and a centralized exhibition area for China (Hainan) and the 41 centrally contracted projects has a total
Pilot Free Trade Zone. Haikou Jiangdong New District investment of 34.2 billion yuan. Since April 2018, a
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