SCIO briefing on master plan for Hainan Free Trade Port
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E-mail China.org.cn, June 11, 2020
Speakers:
Lin Nianxiu, deputy director of the National Development and Reform Commission
Zou Jiayi, vice minister of finance
Wang Shouwen, vice minister of commerce, deputy China international trade representative
Pan Gongsheng, deputy governor of the People's Bank of China and head of the State Administration of Foreign Exchange
Li Guo, deputy head of the General Administration of Customs
Liu Cigui, secretary of the CPC Hainan Provincial Committee and chairman of the Standing Committee of the People's Congress of Hainan Province
Shen Xiaoming, deputy secretary of the CPC Hainan Provincial Committee and governor of Hainan
Chairperson:
Hu Kaihong, spokesperson of the State Council Information Office
Date:
June 8, 2020
Hu Kaihong:
Good morning, ladies and gentlemen. Welcome to this press conference held by the State Council Information Office. A master plan for the Hainan Free Trade Port (FTP) was officially released on June 1. The plan drew considerable public attention and is very important. Today, we are pleased to invite Liu Cigui, secretary of the CPC Hainan Provincial Committee and chairman of the Standing Committee of the People's Congress of Hainan Province; Shen Xiaoming, deputy secretary of the CPC Hainan Provincial Committee and governor of Hainan; Lin Nianxiu, deputy director of the National Development and Reform Commission; Zou Jiayi, vice minister of finance; Wang Shouwen, vice minister of commerce, deputy China international trade representative; Pan Gongsheng, deputy governor of the People's Bank of China and head of the State Administration of Foreign Exchange; and Li Guo, deputy head of the General Administration of Customs. They will brief you on the plan and then take your questions. First, I will give the floor to Mr. Lin.
Lin Nianxiu:
Ladies and gentlemen, friends of the media, good morning to you all. The construction of a free trade port in Hainan is a major reform and opening-up initiative personally planned, deployed and promoted by General Secretary Xi Jinping. The Central Committee of the Communist Party of China (CPC) has made this strategic decision with an eye on the domestic and international situation, and with in-depth research, overall consideration and scientific planning. Recently, at the critical moment when the construction of the Hainan FTP is about to start, General Secretary Xi Jinping gave important instructions to point out the direction for building the Hainan FTP. On June 1, the CPC Central Committee and the State Council issued a master plan for its construction. The following is the main contents of the plan, which I will make to you in the light of the important instructions of General Secretary Xi Jinping.
The general plan can be divided into three key points. First, it adheres to the Party's centralized and unified leadership, and insists on the system of socialism with Chinese characteristics; second, it aligns with the high-standards of international economic and trade rules, prioritizing the innovation of institutional integration and promoting the smooth flow of production factors; and third, it highlights ensuring enduring progress. I would like to sum it up very simply by saying that it is all about right direction, innovation of institutional integration, liberalization and facilitation, and a step-by-step approach.
The main content of the plan can be summarized as "6+1+4".
"6" means liberalization and facilitation on six fronts, including trade, investment, cross-border capital flows, the movement of people, the movement of transport and the secure and orderly flow of data. Centering round these six aspects, a series of institutional arrangements have been made in the plan. I will give you a brief introduction.
In terms of trade liberalization and facilitation, the arrangement will feature zero tariff for the trading of goods and relaxed restrictions on both market access and business operations for trading services.
In terms of investment liberalization and facilitation, to put it simply, the market access of Hainan will be significantly expanded to further boost the vitality of various market entities.
In terms of cross-border capital flow, the plan emphasizes that financial services must serve the real economy. Based on the liberalization and facilitation of trade and investment, capital projects will be launched in stages to promote free and convenient capital flow of Hainan FTP and overseas in an orderly manner.
In regards of the free and easy entry and exit of people, we have implemented a more open talent and residency policy for attracting talent in high-end industries, with the aim of creating a highland where talents can gather.
With regard to the freedom and convenience of transport exchanges, a highly liberal and open transport policy will be implemented to promote the construction of a new western land-sea corridor and an international shipping and aviation hub.
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