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Hainan Free Trade Port Law of the People's Republic of China
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General RuleArticle 2 The State establishes a Hainan Free Trade Port throughout the whole Hainan Island, and establishes policies and systems for the Free Trade Port step by step and in phases, so as to achieve free and convenient trade, investment, cross-border capital flow, entry and exit of persons and transportation as well as safe and orderly flow of data.Article 10 The Hainan Provincial People's Congress and its Standing Committee may, pursuant to this Law, taking into account specific conditions and actual needs of development of the Hainan Free Trade Port, and in accordance with the provisions of the Constitution and the basic principles of laws and administrative regulations, formulate regulations in respect of trade, investment and related administrative activities (hereinafter referred to as the "Regulations of the Hainan Free Trade Port") for implementation within the Hainan Free Trade Port.
Freedom and Facilitation of TradeArticle 13 Goods and articles may be brought into and out freely between overseas and the Hainan Free Trade Port, and the Customs shall carry out supervision pursuant to the law, except for those included in the list of goods and articles prohibited or restricted for importation and exportation at the Hainan Free Trade Port.Article 14 For goods entering any other region within the territory of China (hereinafter referred to as the "Mainland") from the Hainan Free Trade Port, the relevant formalities shall in principle be completed pursuant to import provisions. Articles entering the Mainland from the Hainan Free Trade Port shall be subject to supervision pursuant to the provisions. Simplified import administration shall be implemented for transportation vehicles from the Hainan Free Trade Port to the Mainland.Article 16 The Hainan Free Trade Port shall implement Customs clearance facilitation policies and simplify the procedure and formalities for flow of goods. Except for goods subject to inspection and quarantine or subject to licensing administration pursuant to the law, the Customs shall grant release directly for goods which enter the Hainan Free Trade Port pursuant to the relevant provisions and provide convenient Customs clearance services for market entities.Article 17 The Hainan Free Trade Port shall adopt a negative list management system for cross-border trade in services and implement the fund payment and transfer system that matches the cross-border trade. Cross-border trade in services beyond the list shall be subject to administration under the principle of consistency between domestic and foreign market entities.
Freedom and Facilitation of InvestmentArticle 18 The Hainan Free Trade Port shall implement investment liberalisation and facilitation policies, fully launch the most-simplified-approval system for investment, improve upon the investment promotion and protection system, strengthen protection of property rights, ensure fair competition, and create an open, transparent and predictable investment environment.The Hainan Free Trade Port shall open up the investment access in all aspects, except for fields which involve national security, social stability, bottom line of ecological protection, significant public interest etc. for which the State implements admission administration.Article 19 The Hainan Free Trade Port shall implement an administration system of pre-establishment national treatment plus a negative list for foreign investments. The negative list for foreign investment access specifically applicable to the Hainan Free Trade Port shall be formulated by the relevant departments under the State Council jointly with Hainan Province and promulgated upon approval by the State Council.
Financial and Tax SystemArticle 28 Upon independent customs operations throughout Hainan island and streamlining of tax system, Hainan Free Trade Port shall implement catalogue management for imported taxable goods, and goods not included in the catalogue which enter the Hainan Free Trade Port shall be exempted from import tariffs. The catalogue of dutiable imports shall be formulated by the finance department under the State Council jointly with the relevant departments under the State Council and Hainan Province.Article 29 Goods which enter the Mainland from the Hainan Free Trade Port shall, in principle, be subject to import tariffs; however, goods which are manufactured by enterprises in encouraged industries and do not contain imported materials or with an added value to the imported materials that are processed in the Hainan Free Trade Port of attaining a certain percentage shall be exempted from tariffs. Detailed measures shall be formulated by the relevant departments under the State Council jointly with Hainan Province.Article 30 Enterprises registered in the Hainan Free Trade Port which satisfy the criteria shall be entitled to corporate income tax incentives; individuals in the Hainan Free Trade Port that satisfy the criteria shall be entitled to individual income tax incentives.
Industry Development and Talent SupportArticle 38 The State supports the Hainan Free Trade Port in establishing an open ecological service-oriented industry system, and actively develops key industries such as tourism, modern service industry, high-tech industry and tropical, characteristic and efficient agriculture etc.Article 39 The Hainan Free Trade Port promotes development of an international tourism consumption centre, pushes in-depth integration of tourism and culture and sports, medical care, pension and health care etc., and nurtures new forms and models of tourism.Article 40 The Hainan Free Trade Port shall deepen opening up of modern service industry to domestic and foreign markets, build an international shipping hub, promote integrated development of ports, industries and cities, improve upon marine service infrastructure, and build a marine service system with international competitiveness.High-level overseas universities and vocational colleges may establish schools of science, engineering, agriculture and medicine in the Hainan Free Trade Port.Article 41 The State supports the Hainan Free Trade Port in establishing major research infrastructure and criteria platforms and establishing a technological innovation management system and an international technological cooperation mechanism which comply with research laws.Article 43 The Hainan Free Trade Port shall implement a highly free, convenient and open transport policy, establish a more open shipping system and ship management system, build a "Yangpu Port of China" as the port of registry, and implement a special ship registration system; relax airspace control and sea route restrictions, optimise allocation of traffic rights resources, and raise transport facilitation and service assurance level.Article 45 The Hainan Free Trade Port shall establish an efficient and convenient embarkation and disembarkation administration system, progressively implement visa-free entry policies within a wider scope, extend visa-free duration of stay, optimise administration of embarkation and disembarkation inspection, and provide Customs clearance convenience for embarkation and disembarkation.Article 46 The Hainan Free Trade Port shall implement more open talent, stopover and residence policies, more relaxed temporary embarkation and disembarkation policies and convenient work visa policies for personnel, conduct a negative list administration for work permits for foreigners, and further improve upon the residence system.Article 47 The Hainan Free Trade Port shall relax restrictions for overseas personnel taking professional qualification examinations and implement a unilateral recognition list system for accreditation of overseas professional qualifications which satisfy the criteria.
Comprehensive MeasuresArticle 51 The Hainan Free Trade Port shall establish a cross-border fund flow administration system which adapts to the needs of high-level trade and investment liberalisation and facilitation, open up capital projects in phases, progressively promote full convertibility under foreign debt accounts of non-financial enterprises, advance convenient settlement for cross-border trade, and orderly push forward free and convenient flow of funds between the Hainan Free Trade Port and overseas.Article 52 Approved financial institutions in the Hainan Free Trade Port may engage in offshore financial businesses through designated accounts or within specific regions.Article 54 The State supports exploration of reform of the judicial system which corresponds to the Hainan Free Trade Port. The Hainan Free Trade Port shall establish a diversified commercial dispute resolution mechanism, improve upon the centralised trial mechanism for international commercial dispute cases, and support dispute resolution through arbitration, mediation or other non-litigation methods.