57 supporting regulations formulated for the fifth anniversary of the implementation of the Hainan Free Trade Port Law

Haikou, June 10th (Xinhua) -- On the 10th, the Hainan Provincial News Office held a special press conference to report on the fifth anniversary of the promulgation and implementation of the Hainan Free Trade Port Law of the People's Republic of China. Since the promulgation of the Hainan Free Trade Port Law five years ago, Hainan has formulated 57 free trade port regulations, including 23 that involve the adaptation of relevant provisions of 63 laws and administrative regulations, ensuring that the reform and innovation of Hainan Free Trade Port is based on law and has the correct direction.

Wang Lei, Secretary General of the Standing Committee of the Hainan Provincial People's Congress, introduced that in the past five years, the Standing Committee of the Hainan Provincial People's Congress has focused on strengthening legislation in five areas: first, strengthening legislation on trade and investment liberalization and facilitation. Formulate several regulations on customs clearance credit management for "second tier ports", simplified approval regulations, foreign investment regulations, etc., and make a series of innovative provisions on relaxing access for operating entities, independent operation, convenient exit, and factor acquisition to ensure the convenient and efficient flow of various production factors. The second is to strengthen legislation on the business environment. The formulation of regulations on optimizing the business environment, fair competition, and the development of international commercial arbitration has effectively led, promoted, and guaranteed the continuous optimization of the business environment. The third is to strengthen legislation for leading industries and key industrial parks. Formulate regulations to promote the digital economy, promote the development of seed industry, Yangpu Economic Development Zone, etc., to support and accelerate the construction of a modern industrial system with Hainan's characteristics and advantages through legislation. Fourthly, strengthen legislation on risk prevention and control. Formulate anti smuggling regulations (trial), anti drug regulations, and several provisions on punishment for dishonesty in duty-free shopping to strengthen the risk prevention and control barrier of free trade ports through legislation. The fifth is to strengthen legislation on ecological environment protection and livelihood security. Formulate regulations on the management of entry environment safety access, assessment and evaluation of ecological environment protection, and accountability, in order to legislate and ensure that the public has a stronger sense of happiness and security in the construction of free trade ports.

Wang Lei said that all cities, counties, and departments in Hainan have conscientiously implemented the core system established by the Hainan Free Trade Port Law, and have achieved significant results in key areas such as trade, investment, finance and taxation, ecology, industry, talent, and comprehensive security. Focusing on investment liberalization and facilitation, and taking the lead in implementing the market access commitment system, the number of operating entities has increased by nearly 2.5 times in the past five years.

It is reported that in the next step, the Standing Committee of the Hainan Provincial People's Congress will attach more importance to the use of free trade port laws to regulate and determine power, explore the formation of an open institutional system with international competitiveness, and pave the way and set an example for China's high-level reform and opening up, better assisting the country in building a new development pattern.