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Hainan to change a number of laws to boost free trade zone

In April 2018, President Xi Jinping said that the Chinese authorities intend to actively involve Hainan in globalization

HAIKOU, April 28. /TASS/. By the beginning of 2025, China's State Council is intending to approve a number of amendments to certain paragraphs of several national legislative acts to stimulate the development of the free trade zone, Xinhua reported.

According to the news outlet, such a decision was made at a session of the Standing Committee of the National Peopple's Congress. According to plan, amendments will be made to bills regulating issues of land ownership, the agricultural sector, as well as business related to the organization of cruise tours.

The prevention of illegal construction designated for the needs of forestry and agriculture, maintaining the ecological balance in the cultivation of various agricultural crops on the island, optimizing the activities of foreign enterprises organizing international cruise trips and using Hainan's resources — these are issues that most important in the amendment process.

As noted in the project, all actions regarding the changes in legislation should be taken with extreme caution, the existing risks should be taken into account as much as possible. The plan states that if some of the planned innovations prove to be ineffective in practice, the Chinese government will refrain from changes.

In April 2018, President Xi Jinping said that the Chinese authorities intend to actively involve Hainan in globalization and to draw foreign investors to the island province.

By 2050, according to the authorities, the island should become a unique international cluster with an advanced economy, developed tourism, top-notch scientific, technical and financial potential, and modern medicine. The branches of the best universities and offices of the most powerful corporations in the world will be located on the Island of Hainan.

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