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Master Plan Unveiled for Hainan Free Trade Port
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On 1 June 2020, the Master Plan for the Construction of Hainan’s Free Trade Port was unveiled by the Chinese central government (hereinafter “Master Plan”). This document proposes in total 39 new policies with regards to the liberalization and facilitation of trade, investments and cross-border capital flows to develop Hainan into a global state-of-the-art free trade port.6月1日，中央政府公布了《海南自由贸易港建设总体方案》（下称《总体方案》），从贸易自由便利、投资自由便利、跨境资金流动自由便利等11个方面，提出39条具体政策，要把海南岛打造成具有较强国际影响力的高水平自贸港。
According to the Master Plan, such a free trade port shall be established in Hainan by 2025, to enable the province to become a globally-influential free trade port by the middle of the century. 《总体方案》明确了海南自贸港的发展目标，到2025年，将初步建立以贸易自由便利和投资自由便利为重点的自由贸易港制度体系；到本世纪中叶，全面建成具有较强国际影响力的高水平自由贸易港。
Under the Master Plan, investors would be given greater freedoms such as:根据《总体方案》，投资者将获得更大的自由便利度,其中部分关键性措施如下：
1. Freedom of trade* "Zero tariffs" on the trade in goods;* For services the policy measures aim to liberalize "market access and operations”;* Reduction of restrictions on cross-border trade in services.1、贸易自由* 对货物贸易，实行“零关税”；* 对服务贸易，实行以“既准入又准营”为基本特征的自由化便利化政策举措等* 减少跨境服务贸易限制2. Freedom of investment* Investment shall be allowed if not generally forbidden, for industries implementing mandatory standards, investment and operations are permitted without permission and approval as long as companies commit to meeting the relevant requirements and submitting relevant documents for filing;* Investment and “ease-of-doing-business” measures will be implemented from setting-up businesses to their deregistration and insolvency procedures;* Increased penalties for intellectual property infringement, a strengthening of the application of blockchain technology in intellectual property transactions as part of a “Property Rights Protection System”.2、投资自由* 非禁即入，对具有强制性标准的领域，市场主体只要承诺符合相关要求并提交相关材料进行备案，即可开展投资经营活动，无须许可和审批* 投资便利化措施,从公司设立到注销或破产；* 产权保护制度：加大知识产权侵权惩罚力度，加强区块链技术在知识产权交易中的应用
3. Freedom of capital flows* Building a multi-functional free trade account system;* The promotion of settlement facilitation;* Leading the way in implementing a policy of opening up the financial industry in Hainan to support the construction of an international energy and shipping industry;* To support property and equity rights, and other trading facilities, in addition to accelerating the development of settlement centers. 3、资金流动自由* 构建多功能自由贸易账户体系* 推进结算便利化* 率先在海南落实金融业扩大开放政策，支持建设国际能源、航运、产权、股权等交易场所，加快发展结算中心
4. Freedom of entry and exit* To provide immigration facilities to attract foreign talents for the purpose of making investments or to engage in academic exchanges and business activities;* To implement a wider visa-free entry policy and gradually extend the length of stay free of any visa requirements.4、人员进出自由* 对外籍高层次人才投资创业、讲学交流、经贸活动方面提供出入境便利* 实施更大范围适用免签入境政策，逐步延长免签停留时间
5. Freedom of transport* A less constraint and open shipping system;* Further relaxation of airspace controls and relaxation of restrictions with regards to the right of navigation;* Removal of restrictions on offshore financing for ships and aircrafts.5、运输自由* 更加自由开放的航运制度;* 进一步放宽空域管制与航路航权限制;* 取消船舶和飞机境外融资限制.
2. Tax policyThe free trade port will adopt an arrangement characterized by "zero tariffs" on cargo trade. In addition, the enterprise income tax for companies in certain industries shall only be 15%. The individual income tax for highly-skilled talent and talent in short supply shall be 15% at the most.2. 税收政策同时《总体方案》明确：实行以“零关税”为基本特征的自由化便利化制度安排，对鼓励类产业企业按15%征收企业所得税，对高端人才和紧缺人才最高征收15%的个人所得税等一系列税收优惠措施。
3. Industry developmentThe "Master Plan" also proposes that the tourism industry, modern services industry and high-tech industries shall be vigorously supported, as they are key industries in Hainan. 3. 产业发展《总体方案》还提出将大力发展旅游业、现代服务业和高新技术产业，上述三大产业是海南将着重发展的重点产业。
Another point which deserves attention is the fact that the “Master Plan” grants Hainan’s Free Trade Port full legal authority to enable Hainan’s Free Trade Port and to enact Hainan’s Free Trade Port Law.还有一点值得注意的是, 本次方案给予了海南自贸港充分的法律授权，鼓励海南自贸港制定出台海南自由贸易港法，
For more information, please visit the Chinese government’s website.更多详情请登录 中国政府网
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