Hainan Free Trade Port VS Shanghai Free Trade Zone
At the celebration of the 30th anniversary of Hainan Special Economic Zone, the Party Central Committee has decided to support Hainan in building a pilot free trade zone across the island, and to support Hainan in gradually exploring and steadily promoting the construction of a free trade port with Chinese characteristics. On June 1, the General plan for the construction of Hainan free trade port was released, and the construction of Hainan free trade port officially kicked off. The plan shows China's will and determination to comprehensively deepen reform and opening up in the new era. Since its release at the beginning of the month, it has attracted wide attention from all parties. So what are the highlights and signals of the plan?
The plan comprehensively expounds the construction of Hainan free trade port from the following four aspects: General requirements, system design, step-by-step arrangement, organization and implementation, and puts forward the system security of five free conveniences and institutional arrangements, i.e. free trade, free investment, free cross-border capital flow, free entry and exit of personnel, and free transportation row as well as safe and orderly data flow. The plan also makes arrangements for the tax system and the rule of law system, which is an innovative move, and also releases the signal of conforming to the international high standard economic and trade rules. These institutional arrangements will bring together high-end resources around the world, and promote Hainan to become a more attractive and competitive investment hot spot. So what is a free trade port? What's the difference between it and free trade zone?
The free trade port is an upgrade based on the free trade zone. The free trade port has a wider range of areas. It is usually set up in the port (sometimes there are airports) cities, including the whole city, while the free trade zone is defined a certain area around the city. The free trade port has a wider range, including freedom of investment, free employment, free operation, free entry and exit of operators, etc. in addition to freedom of trade, the free trade port is allowed to carry out departure On the basis of offshore trade, we will further open the high-end service industry and develop offshore finance and other related businesses. When talking about Hainan free trade port, many people naturally think of Shanghai free trade zone. As the bridgehead of China's opening up and the leader of China's economy, the establishment of Shanghai free trade zone is not only of milestone significance to China's expansion of opening up. Looking around the world, free trade ports are built on the basis of free trade zones, the following is a simple comparison between Shanghai free trade zone and Hainan free trade port: