Page 178 - 2025 Special Report

• By 2025, a free trade port policy and remanufacturing industry will be promoted, cross-
institutional system will be established and will border e-commerce support service capabilities
focus on the liberalization and facilitation of trade will be improved and the vehicle trade pilot policy
and investments. The overall business environment will be more broadly implemented.
will be brought to the first-class level in China, the
number of market entities will be substantially • The new ‘smart’ policy includes the
increased, industrial competitiveness will be following measures. The development of the
significantly improved, powerful and effective risk Hainan FTP smart customs supervision system
prevention and control mechanisms will be in place, and customs closure digitization projects are to
laws and regulations will be gradually perfected to be accelerated. The enterprise resource planning
adapt to the construction of a free trade port and (ERP) online platform will perform rapid tax
the quality and efficiency of economic development reduction and exemption reviews. Electronic
will be markedly enhanced. certificates are to be made ‘smarter’ through
online processing of certificate renewal, unlocking
• By 2035, the free trade port system and and card replacement services. International
operation mode will be more mature. Trade travel health services will be improved by setting
and investment rules characterized by freedom, up an online service platform for health exams
fairness, rule of law and high-level process and vaccine appointments for travelers.
supervision will be established to realize free and
convenient trade, free and convenient investments, • The new policy quantifies time limits for
free and convenient cross-border flow of capital, procedures of great concern for companies such
free and convenient access for people and free and as document review, port inspection, quarantine
convenient transportation, as well as secure and approval and sample inspection. For example,
orderly flow of data. The business environment customs inspection operations for port inspection
will be optimized, laws and regulations will be declarations shall not exceed four hours and
improved, risk prevention and control systems will customs clearance procedures for customs
be more rigorous and modern social governance declarations with normal inspection results shall
will be enhanced, with Hainan becoming a new not exceed one hour. Inspections for fresh and
highlight of China’s open economy. perishable agricultural and food products will be
prioritized. Quarantine approval time for imported
25 measures to facilitate cross-border animals, plants and related products is reduced
trade 86 from seven to only one working day.

In 2024, Hainan has rolled out a new policy to Hainan Yangpu Economic Development
optimize the business environment, featuring 25 Zone
measures designed to facilitate cross-border trade
and promote high level development of foreign The Yangpu Economic Development Zone
trade in the Hainan Free Trade Port. is a state-level development zone established
under a bonded area policy approved by the
• The new policy aims to reduce costs, State Council in 1992. The zone is located on
increase speed and raise the efficiency of the Yangpu Peninsula in northwestern Hainan,
Hainan’s foreign trade in ‘smart, quantifiable and with an area of 31km . In 2007, the State Council
2
convenient’ ways. The measures are a continuation approved the establishment of the Yangpu
of six major existing policies: the ‘zero tariff list’ Bonded Port with an area of 9.2 km . In July
2
will be expanded and made more efficient, larger 2012, upon the approval of the State Council, the
stress tests of FTP customs closures will be held, location of adjoining development zone parcels
the brand name effect of the Hainan Island was adjusted. In October 2013, upon the approval
departure duty free policy will be expanded, of the Hainan Provincial Party Committee and
development of the bonded maintenance and the Hainan Provincial People’s Government, the
86 Hainan Free Trade Port, https://www.hnftp.gov.cn/ organizational system of Sandu Town in Danzhou
zczdtx/myzc/202404/t20240416_3647154.html was put under the jurisdiction of Yangpu.

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