ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

China writes Hainan free trade port plan into law

Two-phase approach aims to turn area into magnet for foreign investment

China drafted a law formalizing the free trade port status of Hainan following a pilot program testing a unique national policy of zero tariffs, low tax rates and a simplified tax system. The measure will make the southern island province China’s largest free trade area.

The draft legislation, which has been reviewed by the National People’s Congress, is open for public comment until Jan. 29. The proposal is in line with a master plan announced in June 2020 for transforming the entire province -- about twice as big as the San Francisco Bay Area -- into a globally influential free trade port.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more