CHINA Hainan FTP to streamline approval process, widen market access

CHINA

Hainan FTP to streamline approval process, widen market access

Xinhua

21:45, June 21, 2021

BEIJING, June 21 (Xinhua) -- China's Hainan free trade port (FTP) will further simplify its approval procedures and broaden market access through a recently enacted law on the construction of the FTP, an official said Monday.

Photo: VCG

The FTP will streamline administrative processes, improve services and provide more institutional convenience for market entities, Feng Fei, governor of Hainan Province, told a press conference.

On June 10, China passed a law, making institutional arrangements for the construction of the FTP at the national legislative level.

The law also enables market entities, especially foreign-invested companies, to enjoy more opportunities as it features a shortened negative list, which allows more sectors to be opened to foreign investors.

On pooling talent from around the world to Hainan, the law stipulates visa and work permit facilitation for international talent, Feng said.

Last June, China released a master plan to build the southernmost province into a globally influential and high-level free trade port by the middle of the century.


Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue