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Hainan presents free trade port's potential to European companies

The authorities presented a plan for the free trade port’s development in June

HAIKOU, September 28. /TASS/. Over 50 companies from Denmark, Norway and Finland took part in a video conference dedicated to promoting preferential policies and investment opportunities for Hainan's free trade port project, reported www.hinews.cn

According to the news outlet, the event was organized by the Office for International Economic Development of Hainan Province and the Norwegian Chamber of Commerce in China. During the videoconference, the participants discussed such matters as tax policy of the free port, personnel policy, preferences in the medical industry and other advantages of the free trade port. 

According to the news outlet, the participants of the event were mainly companies engaged in education, technology, finance, seafood and other industries. It is noted that representatives of European enterprises highly appreciated the possibilities of the free port project, expressed their interest in entering the Hainan market and strengthening cooperation with Chinese partners.

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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