China Enacts Hainan Free Trade Port Law

The Standing Committeeof the 13thNational People’s Congress adopted the Hainan Free Trade Port Law of the People’s Republic of China on 10 June. The law stipulates that Hainan will establish a free trade port policy and institutional system step-by-step to achieve the liberalisation and facilitation of trade, investment, cross-border capital flows, free and convenient personnel movements and transportation, and safe and orderly flow of data. The free trade port will feature special tax arrangements, efficient social governance and a sound legal system as guarantee, and sustained efforts will be made to optimise the law-based, internationalised and convenient business environment and achieve a fair, unified and efficient market environment.  

Source: Hainan Provincial People’s Government