On the Construction of Hainan Free Trade Port through Five Key Words

CCTV News:The construction of the free trade zone for more than two years has accumulated energy for gradually promoting the construction of the free trade port. On June 1st, the "Overall Plan for the Construction of Hainan Free Trade Port" was promulgated, which clearly defined the implementation of the construction of Hainan Free Trade Port throughout Hainan Island. Let’s look forward to the construction of Hainan Free Trade Port through a set of keywords.

Keyword 1: "first-line release" and "second-line control"

The "first-line liberalization" mentioned here refers to the liberalization of the management link between Hainan Free Trade Port and the national customs border. Except for the list of goods restricted from import, most imported goods are duty-free. Very simple management is implemented in all aspects, which is convenient for global logistics and talent exchanges.

After the "first-line liberalization", "second-line management" refers to the establishment of a new management link between Hainan Free Trade Port and other parts of China. For example, when imported goods enter the mainland from Hainan Free Trade Port, they should go through the formalities according to the import regulations, pay taxes according to the regulations, and other management should also be carried out in accordance with domestic regulations, and so on.

Keyword 2: Freedom and convenience

The plan proposes that Hainan Free Trade Port implements free and convenient trade. The basic feature of trade in goods is "zero tariff", and the basic feature of trade in services is "both access and quasi-operation". The Customs implements accurate supervision of enterprises and institutions in Hainan Free Trade Port with low intervention and high efficiency, so as to realize the free production and operation of enterprises in Hainan Free Trade Port.

Implement free and convenient investment and greatly relax the market access of Hainan Free Trade Port. Establish the establishment convenience based on electronic license, and the operation convenience based on "everything is answered" and "nothing is disturbed".

Implement free and convenient cross-border capital flow.

We will implement free and convenient entry and exit of personnel, and implement a more open talent and residence suspension policy for high-end industrial talents according to the development needs of Hainan Free Trade Port.

We will implement free and convenient transportation, implement a highly free, convenient and open transportation policy, promote the construction of an international shipping hub and aviation hub for the new land and sea passage in the west, and accelerate the construction of a modern comprehensive transportation system.

Keyword 3: Zero tariff

The plan proposes to implement "zero tariff" negative list management for production equipment imported by enterprises for their own use, except for goods that are clearly not exempted from tax by laws, regulations and relevant regulations and prohibited from being imported by the state; Implement "zero tariff" positive list management for operational vehicles and yachts imported from the island for transportation and tourism; For imported goods consumed by residents on the island, a positive list management is implemented, and duty-free purchases are allowed on the island. Goods and articles subject to "zero tariff" list management shall be exempted from import duties, import value-added tax and consumption tax. Relax the duty-free shopping quota for outlying islands to 100,000 yuan per person per year, and expand the types of duty-free goods.

At the same time, the tax authorities should strengthen the identification of tax evasion risks, prevent tax base erosion and profit transfer, and avoid Hainan Free Trade Port becoming a "tax haven".

Keyword 4: Risk prevention and control

Under the background of the serious global COVID-19 epidemic and the complicated and changeable international situation, the plan also proposes to establish a risk prevention and control system to prevent and resolve major risks in trade, investment, finance, data flow, ecology and public health.

Keyword 5: Rule of law system

The plan proposes to establish a free trade port legal system based on Hainan Free Trade Port Law, with local regulations and commercial dispute settlement mechanism as the important components, and to create a world-class free trade port legal environment.