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Hainan officially released White Paper on construction of Free Trade Port

The document consists of three parts with a total volume of 20,000 characters

HAIKOU, July 30. /TASS/. The government of the southern Chinese province of Hainan has published a new edition of the White Paper on the construction of a free trade port in the region. The document was published on the project's official account in the social network WeChat.

The document consists of three parts with a total volume of 20 thousand characters. It lists the main steps and measures taken by the authorities between June 2021 and May 2022.

The White Paper outlines various policies and programs the provincial government has implemented in areas such as trade and investment liberalization, cross-border movement of capital, people and goods, data security, modern manufacturing, taxation, social management, legislative work, and risk prevention.

On June 1, 2020, the Central Committee of the Communist Party and the State Council of China published a program creating the Hainan free trade port. The document covers the creation of a special customs zone on this tropical island. The Chinese authorities intend to generally complete the free port’s construction in 2025 - by that time, the island should have a mechanism in place to ensure open trade and investment. By 2035, the authorities plan to secure free trade and investment, cross-border movement of capital, travel, and freight traffic in Hainan.

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