HAIKOU, September 29. /TASS/. China's Hainan intends to develop cooperation in financial technologies with companies from Lithuania. According to www.hinews.cn, the parties expressed mutual interest during a video conference dedicated to digital securities of China and the EU, as well as an open financial market.
According to the news outlet, from the Chinese side, representatives of the Hainan Ecological Technopark took part in the video conference (an IT park, there are dozens of companies engaged in the development of software, computer technologies, training of IT specialists). They talked about the advantages of the technology park, as well as the benefits of Hainan's free trade port, the construction of which is currently being actively promoted. Particular attention was paid to issues of tax preferences of the island, the investment attractiveness of the region, advantages in trade and other areas.
In turn, Andrius Sankauskas, Lithuanian Trade Adviser in China, who participated in the online meeting, noted that the conditions for doing business on Hainan comply with EU requirements. He also stressed that through cooperation with Lithuania, Hainan will be able to establish cooperation with other EU states.
Sankauskas pointed out that Lithuanian companies will take part in the Hainan FinTech Week, which will take place in April 2021. "This will be a good platform for starting cooperation," he said. "Next year we will also hold a fintech week in Lithuania, where we will be glad to see Hainan representatives," he went on to say. "Based on the results of these events, Hainan and Lithuania will be able to outline a plan for long-term cooperation in financial technologies and will certainly become excellent partners in this field," the trade adviser concluded.
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.