Hainan free trade port outlines focus

The State Council Information Office held a press conference on Overall Plan for the Construction of Hainan Free Trade Port . Here are the highlights:

Govt to develop Hainan free port in two phases (Read more)

China is planning to build a high-quality free port in Hainan province in steps and phases, the country's top economic regulator said on Monday.

"The implementation of the government's overall plan for the construction of Hainan Free Trade Port can be divided into two phases-the first phase to lay the foundation and make preparations and the second phase to comprehensively promote the development," said Lin Nianxiu,deputy head of the National Development and Reform Commission.

Hainan vows it will not allow free rein to real estate sector (Read more)

Hainan will strictly control real estate industry development and will not be "a processing plant for property projects", Liu Cigui, Party chief of the island province, said on Monday.

Liu told a news conference in Beijing that Hainan will develop the estate industry within its resources and environmental capability. "Hainan rejects being a processing plant for real estate projects," Liu said. "The amount of our land is limited, and we've already learned a lesson."

"We should not build a modern industrial development mode that relies on a single industry. While pursuing economic growth, we should also pay attention to environmental protection," Liu added.

Hainan Free Trade Port unveils its tariffs plan (Read more)

Hainan will introduce measure that centers on zero tariffs on goods in steps and phases to enable the free flow of trade, said Zou Jiayi, vice-minister of Finance.

According to her, Hainan Free Trade Port will establish a zero-tariff negative list and three positive lists, with a key focus on supporting high-tech, ecological and environmental protection and specialty industries. More efforts will also be made to gradually shorten the negative list and expand positive lists in the future.