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Hainan develops 17 initiatives for the free trade port's business climate

By 2035, the free trade port and its model will become more solid

HAIKOU, September 22. /TASS/. The Hainan authorities have developed 17 initiatives aimed at improving the business climate within the framework of the free trade port on the island, the Hainan Daily newspaper reported.

They will relate, the newspaper writes, to the further development of an integrated system for business registration and paperwork, improving customs procedures, simplifying electronic document flow, improving port infrastructure, optimizing export and import operations, improving the quality of services and othe business areas.

The authorities presented a plan for the free trade port’s development on June, 1. In accordance with the plan, the Hainan province will be turned into a special customs zone. The country’s government intends in general to wrap up the creation of the free trade port on the island by 2025: by this time the island should acquire a system to ensure free trade and investments.

By 2035, the free trade port and its model will become more solid. By this time, Hainan intends to ensure the freedom of trade and investments, trans-border movement of capital, people and shipping.

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