Invest in Hainan, the convention and exhibition economy.
The Regional International Convention and Exhibition Centre
The convention and exhibition economy in Hainan economy has been steadily improving.
During the first four years of “13th Five-Year Plan” period, the convention and exhibition sector in Hainan Province saw an annual growth rate of 11.6% in added value.
The convention and exhibition industry has had an increasing positive effect in driving the development of other sectors.
The Bo’ao Forum for Asia
The Bo’ao Forum for Asia (BFA) is an unofficial, non-profit international organization headquartered in Hainan Island that is held regularly at a fixed venue in the seaside town of Bo’ao.
It was jointly initiated by 29 member states. Bo’ao Town, Qionghai City, Hainan is the permanent location for the headquarters of the forum.
The 2021 Bo’ao Forum for Asia Annual Conference was themed, “A World in Change: Join Hands to Strengthen Global Governance and Advance Belt and Road Cooperation”
The 2021 annual conference covered six topics, including “Interpreting China”, “Insight into World Changes”, “Belt and Road Cooperation”, “Embrace Industrial Transformation”, “Deployment of New Technology” and “Shared Development.”
The China International Consumer Products Expo
The expo is hosted by the Ministry of Commerce and the Hainan Provincial Government and organized by the Foreign Trade Development Bureau of the Ministry of Commerce and the Hainan Provincial Bureau of International Economic Development (Hainan IEDB).
It is the first national-level exhibition with premium consumer products to be held in Hainan at the Hainan International Convention and Exhibition Centre (Haikou) from May 7 to 10, 2021.
The event gathers resources from the global consumer sector and creates a high-end trading platform featuring multiple business types and categories.
Policy advantages
National exhibitions enjoy “three types of tax” exemptions to promote the Hainan Free Trade Port to develop the convention and exhibition economy and conduct international exchanges.
The state operates a policy of tax exemptions for the import and sales of foreign exhibits at the national exhibition during the exhibition period, it exempts tariffs, import value-added taxes and consumption taxes for imported exhibits.
Favourable policies
Tax exemption policy for exhibitions
Compared to Non-free trade zones in the Mainland
Only the 3rd China International Import Expo and the China International Fair for Trade in Services enjoy the exemption policy for three types of taxes
Hainan Free Trade Port
Foreign exhibits at the national exhibition enjoy an exemption policy for “three types of taxes” during the exhibition period.
Related article: Economic performance of Hainan Province in the first quarter, 2021
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