The Voice of Hainan: Hainan free port to boost flow of people, capital

南海网"This is Hainan" 英语音频新闻节目《海南之声》(第29期)

This is the Voice of Hainan, from hinews.cn

本期内容提要:

Hainan free port to boost flow of people, capital

海南自贸港建设促进人员和资金的流动

Since the building of a free trade port is a historical opportunity for Hainan's development, the island province should use the "window period"-the next two to three years-to transition from a pilot free trade zone to a free trade port by expediting free trade in services.

Free trade in services is not only compatible with China's further opening-up policy, but also suited to Hainan's distinct conditions. Hainan is well positioned to use innovative means to boost service trade. Last year, the province's trade in services accounted for 18.1 percent of its total trade volume, 3.4 percentage points higher than the national average, and Hainan can raise it further.

Since the proposed free trade zone will also have a national major strategic service area, Hainan should build up its unique advantages in service trade, and take measures to further expand its service sector.

To resolve the problem of insufficient supply of international products and services, Hainan should introduce the Hong Kong Special Administrative Region's tourism consumption and supply chains, and promote the integration of tourism-related shopping management and market supervision standards between the two regions. This will help build a tourism consumption center with global influence, and transform and upgrade the services related to culture, entertainment, finance, insurance, and logistics.

Accelerating free trade in services will help Hainan gain new advantages, which in turn will help it open up wider to the outside world and significantly strengthen its industrial development base. It will also help expedite the building of an industrial structure based on services-related consumption.

The need for Hainan is to implement an open service sector access policy, formulate its own version of negative list for service trade, and abolish the restrictive investment measures in the existing negative list except those for publications, radio and television and other special areas, and give equal pre-and post-establishment treatment to domestic and foreign entities, in order to fully open up the services market and facilitate innovative development in service trade.

To fully open up its services market, Hainan should also implement tax policies similar to those adopted by Hong Kong, Singapore and other free trade ports. For example, it should impose zero tariffs on healthcare, tourism, cultural and entertainment products, and levy zero value-added tax on transactions between modern service enterprises.

And in order to promote free flow of people, Hainan needs to implement policies to liberalize service trade, such as relaxing visa rules for foreigners working on the island and lowering the residence certificate application threshold.

source: China Daily

本期主播:叶海声
策划:陈书焕 叶海声
总策划:陈嘉奋
总监制:韩潮光

Responsible editor: 石一涵
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