PR89860

HAIKOU, China, June 2, 2021 /PRNewswire=KYODO JBN/ --

How long does it take for a ship to finish port registration procedures?  

China's Hainan Free Trade Port gave a new answer: One day!

On September 23, 2020, the 319,000-ton "Yuanhuayang" shipping vessel completed

formal registration at the China Yangpu Port in just one day, smashing all

previous records, thanks to Hainan's innovative "One Step" ship registration

system.

On June 1, 2020, the Chinese government issued a master plan for the Hainan

FTP, which focused on facilitating free trade investment, establishing a policy

system suitable for a high-level Free Trade Port, and creating an

internationally influential special customs administration area.  

In the year following the publication of the master plan, 791 projects kicked

off in Hainan, with a total investment of 223.48 billion yuan (about $35.06

billion).

In the first quarter of 2021, Hainan achieved a regional GDP of 139.6 billion

yuan (about $21.9 billion), a year-on-year increase of 19.8%, the

second-highest growth rate of any Chinese province.

Several key policies have been implemented in the FTP, including a 15% income

tax for both individuals with high-level and in-demand expertise working in

Hainan and eligible Hainan-registered companies in certain industries, zero

tariffs on listed imported raw materials, zero tariffs on listed imported

vehicles and yachts, and a negative list for zero tariffs on manufacturing

equipment for internal production use.

As of the end of 2020, a total of 45,940 companies had opened in Hainan's  

province-level key industrial parks, increasing total company numbers by 74.5%.

Hainan's 11 key Free Trade Port industrial parks were home to a total of 38,899

companies, an increase of 89.8%.

On May 1, 2018, Hainan implemented a policy allowing citizens of 59 countries

to enter without a visa. In the first quarter of 2021, 419 foreign invested

companies were set up in Hainan, a year-on-year increase of 525.37%. Actual use

of foreign investment funds totaled 555.8 million USD, a 432.98% increase over

the previous year's numbers, and Hainan saw new foreign invested companies from

66 countries and regions set up in the province.

As the world's largest Free Trade Port, as well as an international tourism

island brimming with tropical romance, Hainan had attracted 232,000 talented

individuals as of April 12, 2021, and is turning into one of the hottest new

places for investment on the planet as well as a new home for young people from

near and far.

Source: Hannan International Media Center (HIMC)

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=392841

   Caption: An aerial photo showed the bustling China Yangpu Port located on the west coast

of the Hainan Free Trade Port on May 26. (Photo by Chen Yuancai / Hainan Daily)

   Link: http://asianetnews.net/view-attachment?attach-id=392843

   Caption: An aerial view of Haikou City in China’s Hainan Free Trade Port. (Photo by Liu

Yang / Hainan International Media Center)