Page 124 - 2021 Special Report

Fig 10 Rapidly developing tourist industry in Hainan
Source: Wind
of a free trade port, and the quality and efficiency
of economic development will be markedly
enhanced.
By 2035, the free trade port system and
operation mode will be more mature. Trade
and investment rules characterized by freedom,
fairness, rule of law and high-level process
supervision will be basically established to realize
free and convenient trade, free and convenient
investment, free and convenient cross-border
flow of capital, free and convenient access for
people and free and convenient transportation,
as well as secure and orderly flow of data. The
business environment will be more optimized,
the system of laws and regulations will be
sounder, the risk prevention and control system
will be more rigorous, and a pattern of modern
social governance will be basically formed, with
Hainan becoming a new highland of China's open
economy.
By the middle of the century, a high-level free
trade port with strong international influence will
have been fully built.
II. Institutional Design
The main content of the overall plan can be
s u m m a r i z e d a s " 6 + 1 + 4 ". T h e “ 6 ” r e p r e s e n t s of licenses" to cover the whole province.
free and convenient trade, free and convenient
investment, free and convenient cross-border
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flow of capital, free and convenient access for
people, free and convenient transportation, and
secure and orderly flow of data. The “1” represents
constructing a modern industrial system. Special
emphasis should be placed on the strengths
and characteristics of Hainan when vigorously
developing the tourism, modern service and high-
tech industries. The “4” represents strengthening
institutional building in terms of tax systems,
social governance, rule of law, and risk prevention
and control systems.
Hainan Action Plan for Creating a First-
class Business Environment (2020-2021)
In order to accelerate the formation of the rule of
law, internationalization, facilitation of the business
environment, and further stimulate market vitality
and creativity, the establishment of the Free Trade
Port in Hainan Province will be accelerated. On
10 October 2020, the Communist Party of China
Hainan Provincial Party Committee General Office
and the General Office of the People's Government
of Hainan Province issued the “Hainan Action Plan
for Creating a First-class Business Environment
(2020-2021)”. This action plan includes:
- In terms of setting up enterprises, Hainan
will further deepen the pilot reform of "separation