Page 122 - 2023 Special Report on the State of Business in South China
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and investment rules characterized by freedom, “a shipping hub port, a petrochemical base, an
fairness, rule of law and high-level process integrated pulp-paper production base and an oil
supervision will be established to realize free and and gas reserve base oriented to southeast Asia”.
convenient trade, free and convenient investments, Yangpu’s industrial development strategy is to seize
free and convenient cross-border flow of capital, the strategic opportunities of the Maritime Silk
free and convenient access for people and free and Road and Free Trade Zone and focus on building
convenient transportation, as well as secure and two platforms, i.e., an export processing base
orderly flow of data. The business environment for petrochemical products and an international
will be optimized, laws and regulations will be energy trading center oriented to southeast Asia.
improved, risk prevention and control systems will
be more rigorous, and modern social governance In the 27 years of development and construction
will be enhanced, with Hainan becoming a new for the Yangpu Economic Development Zone, a
highlight of China's open economy. number of key projects with advanced technology,
high-added value, and high environmental
To follow up the policy support, the ministry of protection levels have been completed. It has
commerce announces a program to expand the become a leader in Hainan's industrial development
service industry in Hainan in April 2021. It requires and the growth of foreign trade. 20 domestic and
that after three years pilot, a more open market foreign trade routes have been opened. The zone
will be constructed with standardized and effective has preliminarily established a route framework
management system through facilitating of market with Yangpu Port serving as the international transit
access, reforming the regulations, and optimizing port. Domestic trade routes connect domestic
the market environment. Hainan is assigned to coastal ports in regions such as the Beibu Gulf,
share pilot experience as a best practice of the new Yangtze River Delta, North China, and Northeast
pattern of development. Additionally, the national Pearl River Delta. Foreign trade routes connect
development and reform commission has further to southeast Asian countries and regions such as
released the market access for several major Vietnam, Singapore, Malaysia and Myanmar.
industries in Hainan, such as pharmaceutical and
medical equipment, financial industry, culture and In January 2022, the Administration of Foreign
game industry, education, aviation and sports. Exchange carried out a pilot project of high-level
opening up of cross-border trade and investment
Hainan Yangpu Economic Development in the Yangpu Economic Development Zone. By
Zone end of May 2022, the enterprises in the pilot areas
had handled 709 current project pilot businesses,
The Yangpu Economic Development Zone is a totaling US$3.9 billion. The implementation of capital
state-level development zone established under a project businesses, such as the cancellation of capital
bonded area policy approved by the State Council in projects – accounts to be paid for foreign exchange
1992. The zone is located on the Yangpu Peninsula settlement, and exemption from registration of
in northwestern Hainan, with an area of 31km2. In domestic reinvestment of foreign-funded enterprises,
2007, the State Council approved the establishment has strongly supported the development of cross-
of the Yangpu Bonded Port with an area of 9.2 border business of local enterprises68.
km2. In July 2012, upon the approval of the State
Council, the location of adjoining development Bo’ao Lecheng International Medical
zone parcels was adjusted. In October 2013, Tourism Pilot Zone
upon the approval of the Hainan Provincial Party
Committee and the Hainan Provincial People’s Bo’ao Lecheng International Medical Tourism
Government, the organizational system of Sandu Pilot Zone was established under the approval of
Town in Danzhou was put under the jurisdiction of the State Council on 28 February 2013. The zone
Yangpu. The planned area for the Yangpu Economic pilots the development of international medical
Development Zone is 120km2 with a population of tourism related industries such as chartered
100,000. The Yangpu Economic Development Zone
is to develop into "one port and three bases", i.e., 68 CFN, http://www.financeun.com/newsDe-
tail/49770.shtml
122
fairness, rule of law and high-level process integrated pulp-paper production base and an oil
supervision will be established to realize free and and gas reserve base oriented to southeast Asia”.
convenient trade, free and convenient investments, Yangpu’s industrial development strategy is to seize
free and convenient cross-border flow of capital, the strategic opportunities of the Maritime Silk
free and convenient access for people and free and Road and Free Trade Zone and focus on building
convenient transportation, as well as secure and two platforms, i.e., an export processing base
orderly flow of data. The business environment for petrochemical products and an international
will be optimized, laws and regulations will be energy trading center oriented to southeast Asia.
improved, risk prevention and control systems will
be more rigorous, and modern social governance In the 27 years of development and construction
will be enhanced, with Hainan becoming a new for the Yangpu Economic Development Zone, a
highlight of China's open economy. number of key projects with advanced technology,
high-added value, and high environmental
To follow up the policy support, the ministry of protection levels have been completed. It has
commerce announces a program to expand the become a leader in Hainan's industrial development
service industry in Hainan in April 2021. It requires and the growth of foreign trade. 20 domestic and
that after three years pilot, a more open market foreign trade routes have been opened. The zone
will be constructed with standardized and effective has preliminarily established a route framework
management system through facilitating of market with Yangpu Port serving as the international transit
access, reforming the regulations, and optimizing port. Domestic trade routes connect domestic
the market environment. Hainan is assigned to coastal ports in regions such as the Beibu Gulf,
share pilot experience as a best practice of the new Yangtze River Delta, North China, and Northeast
pattern of development. Additionally, the national Pearl River Delta. Foreign trade routes connect
development and reform commission has further to southeast Asian countries and regions such as
released the market access for several major Vietnam, Singapore, Malaysia and Myanmar.
industries in Hainan, such as pharmaceutical and
medical equipment, financial industry, culture and In January 2022, the Administration of Foreign
game industry, education, aviation and sports. Exchange carried out a pilot project of high-level
opening up of cross-border trade and investment
Hainan Yangpu Economic Development in the Yangpu Economic Development Zone. By
Zone end of May 2022, the enterprises in the pilot areas
had handled 709 current project pilot businesses,
The Yangpu Economic Development Zone is a totaling US$3.9 billion. The implementation of capital
state-level development zone established under a project businesses, such as the cancellation of capital
bonded area policy approved by the State Council in projects – accounts to be paid for foreign exchange
1992. The zone is located on the Yangpu Peninsula settlement, and exemption from registration of
in northwestern Hainan, with an area of 31km2. In domestic reinvestment of foreign-funded enterprises,
2007, the State Council approved the establishment has strongly supported the development of cross-
of the Yangpu Bonded Port with an area of 9.2 border business of local enterprises68.
km2. In July 2012, upon the approval of the State
Council, the location of adjoining development Bo’ao Lecheng International Medical
zone parcels was adjusted. In October 2013, Tourism Pilot Zone
upon the approval of the Hainan Provincial Party
Committee and the Hainan Provincial People’s Bo’ao Lecheng International Medical Tourism
Government, the organizational system of Sandu Pilot Zone was established under the approval of
Town in Danzhou was put under the jurisdiction of the State Council on 28 February 2013. The zone
Yangpu. The planned area for the Yangpu Economic pilots the development of international medical
Development Zone is 120km2 with a population of tourism related industries such as chartered
100,000. The Yangpu Economic Development Zone
is to develop into "one port and three bases", i.e., 68 CFN, http://www.financeun.com/newsDe-
tail/49770.shtml
122
