Invest in Hainan, what are the 60 key policies for the Hainan Free Trade Port?
01 Maximum personal income tax of 15% for eligible talents
02 Corporate income tax of 15% on encouraged industrial enterprises
03 Exemption from import duties, import value-added tax and consumption tax on imported production equipment for enterprises’ own use
04 Export tax rebates on domestically built ships that are registered at Yangpu Port of China and engaged in international transport. Exemption from import duties, import value-added tax and consumption tax on imported operational vehicles and yachts
05 Exemption from import duties, import value-added tax and consumption tax on raw and auxiliary materials imported for production
06 Exemption from import duties, import value-added tax and consumption tax on imported goods purchased by island residents
07 Quota for offshore duty-free shopping raised to RMB 100,000 per person per year and with expanded categories of duty-free products
08 Exemption from corporate tax on the income acquired from new foreign direct investment before 2025 for tourism, modern services and high-tech industry enterprises
09 Qualified capital expenditures to be fully tax-deductible; or accelerated depreciation and amortization
10 Tax exemption on imports and sales for overseas exhibits during the exhibition
11 Products originating from Hainan, including output products whose added value exceeds 30 percent after the domestic processing of imported intermediary products, are exempt from taxes when entering the rest of China
12 Allowing flights in and out of Hainan to refuel with bonded aviation fuel
13 Export tax rebates on domestically built ships that are registered at Yangpu Port of China and engaged in international transport
14 Allowing ships (those engaged in domestic and foreign trade) that transit at Yangpu Port of China to refuel with bonded oil
15 Building Yangpu Port of China into an international port of registry
16 Adopting a trial policy of tax rebates at the port of departure on goods that use Yangpu Port of China as a transit port for the final departure from China
17 Adopting an import & export management system featuring ‘free flow through the first line and efficient control at the second line’ in Yangpu Bonded Port Area and other qualified zones
18 Allowing overseas high-level universities and vocational colleges specialized in science, engineering, agriculture and medicine to open branch schools independently in Hainan
19 Building Hainan into an international education innovation island
20 Establishing a multi-functional free trade account system
21 Replacing pre-audit with post-audit for the banking sector on authenticity review of cross-border and new international trade
22 Applying the negative list of cross-border trade in services for Hainan Free Trade Port
23 Granting enterprises market access with a prior commitment
24 Applying the special list of market access to Hainan Free Trade Port
25 Applying the negative list of foreign investment access to Hainan Free Trade Port
26 Treating domestic and foreign enterprises as equals in government procurement
27 Implementing a more convenient visa-free entry policy
28 Salary ranges employed as main indices to evaluate talents
29 Implementing a negative list management system on the issuance of work permits for foreign employees
30 Permitting foreign personnel to serve as legal representatives in legal bodies, public institutions and state-owned enterprises
31 Removing restrictions on overseas ship and aircraft financing
32 Decentralizing the registration management of foreign debts issued by enterprises to Hainan
33 Expanding the scope of cross-border asset transfer
34 Prioritizing the support of listing Chinese enterprises overseas
35 Allowing enterprises listed overseas to handle foreign exchange registration directly at banks
36 Establishing Hainan International Intellectual Property Rights Exchange
37 Supporting overseas securities, funds, and futures institutions to set up wholly-owned or jointly-owned institutes in Hainan
38 Supporting the establishment of property insurance, life insurance and reinsurance companies, mutual insurance organizations and self-insurance companies
39 Supporting to develop cross-border medical insurance products in cooperation with overseas institutions
40 Supporting the construction of trading venues for international energy, shipping, property rights and equity stakes
41 Enabling non-residents to participate in trading and fund settlement at trading venues
42 Developing over-the-counter (OTC) derivatives services
43 Conducting cross-border asset management services
44 Issuing Hainan provincial bonds globally
45 Opening up value-added telecommunications services
46 Developing services of online data processing and transaction processing
47 Opening basic telecommunications services up in a safe and orderly fashion
48 Developing the International Internet Data Interaction Pilot Project
49 Expanding air traffic rights, including the Fifth Freedom and Seventh Freedom
50 Building an international aviation hub
51 Building a new international land and sea transport hub to connect Western China with the world
52 Building a regional medical centre
53 Building a national base of block chain technology and innovation-driven development
54 Building a pilot zone for cruise tourism
55 Building a pilot zone for reform, development and innovation of the yacht industry
56 Building Hainan into an International Design Island
57 Building a national base of Sino-foreign trade of culture products
58 Authorizing the Hainan government to manage and adjust the use of cultivated land, permanent basic farmland, forestland and land for construction
59 Granting greater autonomy to various industry organizations
60 Formulating laws and regulations based on the reality of Hainan’s free trade port construction
Related article: Invest in Hainan, what is the 6+1+4 policy framework of the Hainan free trade port
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