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Hainan Unveils Free Trade Zone Facilitation Measures

The Action Plan of Hainan Province for Optimising the Business Environment (2019-2020) has now been issued by the Hainan Provincial People’s Government. This new policy document outlines a number of measures designed to enhance the local business environment and to facilitate the establishment of the Hainan Pilot Free Trade Zone and Free Trade Port.

As well as detailing a number of property registration, cross-border trade and investor protection initiatives, the Plan also looks to streamline the company incorporation process, fast-track planning permission, simplify utility connection requirements, provide easier credit access, improve the overall financial environment and lower the corporate tax burden.

In addition, the separation of permits and business licences will be prioritised, as will a number of reforms relating to tourism, the services sector and the high-tech industries. Alongside this, steps will be taken to widen the scope of the government administrative services accessible via mobile devices.

Source: Hainan Provincial People’s Government

Content provided by Picture: HKTDC Research
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