The main contents of the Overall Plan for the Construction of Hainan Free Trade Port are as follows.

Hainan, the largest special economic zone in our country, has the unique advantage of implementing comprehensively deepened reform and testing the highest level of opening up policy. The world is undergoing a new round of major development, transformation and adjustment. Protectionism and unilateralism are on the rise, and economic globalization is facing greater headwinds and setbacks. Building a free trade port in Hainan is a fundamental requirement for promoting high-level opening-up and establishing a new system of open economy. It is an urgent need to deepen market-oriented reform and foster a law-based, internationalized and business-friendly environment. It is a strategic choice to carry out the new development concept, promote high-quality development and build a modern economic system. It is a practical action to support economic globalization and build a community with a shared future for mankind.

General requirements

(1) Guiding ideology. The Hainan Free Trade Port should be a clear flag and an important gateway for China's opening up in the new era by drawing on the international high-level economic and trade rules, liberating the mind and making bold innovations, focusing on trade and investment liberalization and facilitation, establishing policies, institutions and systems compatible with the high-level free trade port, and building a special area for customs supervision with international competitiveness and influence.

Basic Principles

-- Drawing on international experience. We will continue to plan from a high starting point and build with high standards, take the initiative to adapt to new trends in the restructuring of international economic and trade rules, fully learn from the advanced modes of operation, management methods and institutional arrangements of international free trade ports, form internationally competitive opening policies and systems, accelerate the establishment of new institutions for an open economy, and strengthen the role of regional radiation in driving it. To create our country to deeply integrate into the frontier of the global economic system.

-- Reflecting Chinese characteristics. We should adhere to the centralized and unified leadership of the Party, stick to the path of socialism with Chinese characteristics, put the people first, practice core socialist values, and ensure the right direction for the development of Hainan Free Trade Port. We will give full play to the strengths of the national system that enables the whole country to work together and pool resources to accomplish major tasks. We will mobilize the initiative and creativity of all sectors, pool high-quality global factors of production, and strive to make new breakthroughs in promoting institutional innovation, fostering growth drivers, and building a new pattern of all-round opening up, so as to provide solid support for achieving national strategic goals. To strengthen exchanges and cooperation with Southeast Asian countries, and promote the interconnected development of the Guangdong-Hong Kong-Macao Greater Bay Area.

-- In line with the positioning of Hainan. Centering on the strategic positioning of Hainan as a pilot zone for comprehensively deepening reform and opening up, a national pilot zone for ecological progress, an international tourism consumption center and a major national strategic service support area, Hainan will give full play to its advantages of rich natural resources, unique geographical location, and being backed by a super-large domestic market and hinterland economy. We will seize the important opportunities of the new round of global scientific and technological revolution and industrial transformation, focus on developing tourism, modern service industries and high-tech industries, and accelerate the cultivation of new advantages of cooperation and competition with Hainan characteristics.

-- Highlighting reform and innovation. We will strengthen the awareness of reform and innovation, grant Hainan greater autonomy in reform, support Hainan in advancing reform and innovation on all sides, actively explore the establishment of more flexible and efficient laws, regulations, regulatory models and management systems suitable for the construction of a free trade port, and make great efforts to remove institutional barriers that impede the flow of factors of production. We will deepen opening-up based on the flow of goods and factors of production, accelerate opening-up based on rules and other institutions, and comprehensively deepen reform through high-quality opening-up. We will strengthen systematic integration of reform, focus on coordinated progress, and ensure that innovation measures in various areas complement each other and enhance the overall effectiveness of reform and innovation.

-- Think bottom line. We will continue to work steadily and step by step, coordinate the pace and progress of opening up, roll out each project maturely, and do not rush for success or immediate benefits. We will deepen efforts to streamline administration, delegate power, improve regulation, and provide better services. We will comprehensively promote a system of access facilitation and law-based oversight, and establish regulatory standards and norms that are in line with international standards. We will strengthen the identification of major risks and prevention of systemic risks, and establish and improve supporting measures for risk prevention and control. We will improve the system and mechanisms for major epidemic prevention and control, and improve the public health emergency management system. Regular evaluation should be carried out to correct errors and errors in a timely manner, so as to ensure the correct direction and healthy development of Hainan Free Trade Port.

Development goals

By 2025, a free trade port policy system focusing on free trade and investment facilitation will be established. The overall business environment has reached a first-class level in China, market entities have grown substantially, industrial competitiveness has been significantly enhanced, risk prevention and control has been effective and effective, laws and regulations for the development of free trade ports have been gradually improved, and the quality and efficiency of economic development has been significantly improved.

By 2035, free trade ports will have a more mature system and operation mode, and trade and investment rules featuring free, fair, rule of law and high-level process supervision will be basically in place, so as to facilitate free trade, free investment, free cross-border capital flow, free movement of people, free transportation and safe and orderly flow of data. The business environment will be improved, laws and regulations will be improved, risk prevention and control systems will be strengthened, and a modern social governance structure will take shape, making it a new plateau for China's open economy.

By the middle of this century, a high-level free trade port with strong international influence will be built in all respects.

(4) Scope of implementation. Hainan Free Trade Port covers the whole island of Hainan.

Ii. System design

With the focus on trade and investment liberalization and facilitation, supported by the free, orderly, safe and convenient cross-border flow of various factors of production and a modern industrial system, and guaranteed by a special tax system, an efficient social governance system and a complete legal system, on the premise that the division of labor, mechanisms and measures are clearly defined and the bottom line of no systemic risk is maintained, We will establish a policy and institutional system for Hainan free trade port.

Free and convenient trade. Under the premise of effective supervision, we will establish special customs supervision areas for island-wide closure and operation. For trade in goods, a liberalization and facilitation system featuring zero tariffs will be implemented. For trade in services, we will implement liberalization and facilitation policies and measures featuring both market access and business access.

Let go of the "front line". A "frontline" will be established between the Hainan Free Trade Port and other countries and regions outside the territory of the People's Republic of China. The "front-line" entry (exit) link will be strengthened safety access (exit) supervision, strengthen port public health safety, biological safety, food safety, product quality safety control. On the premise of ensuring the implementation of the obligations stipulated in the international treaties concluded or acceded to by China, a list of goods and articles whose import and export are prohibited or restricted shall be formulated in the Hainan Free Trade Port. Goods and articles not on the list shall enter and exit freely and the customs shall conduct supervision and control according to law. The catalogue of goods subject to import duties in the Hainan Free Trade Port will be formulated, and goods not included in the catalogue will be exempted from import duties when entering the free trade port. Transhipment goods shipped by through bill of lading are exempt from duty and inspection. Goods and articles departing from Hainan Free Trade Port shall be subject to export administration. We will implement convenient and efficient customs supervision and establish a "single window" for high-standard international trade.

"Second line" control. Establish a "second line" between the Hainan Free Trade Port and other areas within the customs territory of the People's Republic of China (hereinafter referred to as the mainland). Goods entering the mainland through the Hainan Free Trade Port should go through relevant procedures in principle according to import regulations, and collect customs duties and import link taxes according to regulations. Goods produced by enterprises in encouraged industries that do not contain imported materials or those with imported materials and components processed in Hainan Free Trade Port and whose value added exceeds 30% (including) are imported into the mainland through "second-tier" will be exempted from import duties, and value-added tax and consumption tax will be levied on import links according to regulations. Postal goods entering the mainland through the Hainan Free Trade Port are subject to supervision and taxation according to regulations. Import management will be simplified for transportation from Hainan Free Trade Port to the mainland. Goods, articles and means of transport entering the Hainan Free Trade Port from the mainland shall be governed by domestic circulation regulations. Mainland goods transiting to the mainland through the Hainan Free Trade Port do not need to go through customs declaration formalities. They should be loaded and unloaded at the customs supervised operation sites (venues) in the free trade port, and stored separately from other customs supervised goods, with clear identification. The site operation enterprise shall, in accordance with the requirements of Customs control, transmit to the Customs such information as the entry and exit of goods.

Freedom within the island. The Customs implements precise supervision with low intervention and high efficiency on enterprises and institutions in Hainan Free Trade Port to realize free production and operation of enterprises in the free trade port. The customs formalities will be simplified for transshipment goods that are shipped from overseas, reloaded, sorted, assembled and shipped to other countries or regions through the Hainan Free Trade Port. There is no storage period for goods in the Hainan Free Trade Port, and you can choose the place of storage freely. Goods with "zero tariff" are exempt from routine customs supervision.

We will promote free and convenient trade in services. We will implement a negative list system for cross-border trade in services, remove barriers existing in service trade modes such as cross-border delivery, overseas consumption and movement of natural persons, and grant national treatment to overseas service providers. We will implement a fund payment and transfer system for cross-border trade in services. In terms of information, qualification requirements, technical standards, transparency and regulatory consistency, we will further standardize domestic regulations that affect the freedom and convenience of trade in services.

Investment is free and convenient. We will significantly expand market access to the Hainan Free Trade Port, strengthen property rights protection, ensure fair competition, foster an open, transparent and predictable investment environment, and further stimulate the vitality of various market entities.

We will implement the market access commitment system. We will strictly implement the "entry if it is not prohibited" policy. On the premise that it is "within control", we will cancel licensing and approval in principle for areas with mandatory standards and establish a sound record system. Market players will undertake to meet relevant requirements and submit relevant materials for record, so that they can carry out investment and business activities. The institution accepting the record shall assume the responsibility of examination as soon as it receives the record. We will implement a management system of pre-establishment national treatment plus a negative list for foreign investment, and significantly reduce prohibitions and restrictions.

We will innovate and improve the system of freedom of investment. We will implement an investment facilitation system focusing on process supervision. Establish policies and systems such as establishment convenience based on electronic certificates, operation convenience based on "responding to emergencies" and "leaving nothing to be bothered", cancellation convenience based on announcement commitments and optimization procedures, and bankruptcy convenience based on due diligence and compliance.

Establish and improve a fair competition system. We will strengthen the fundamental role of competition policies and ensure that market players of all types of ownership enjoy equal treatment in terms of access to factors of production, standard-setting, access licensing, business operations, and preferential policies. Domestic and foreign enterprises will be treated as equals in government procurement. We will strengthen and improve anti-monopoly law enforcement, break administrative monopolies, prevent market monopolies, and maintain market order for fair competition.

We will improve the property rights protection system. The right to acquire, use, dispose of and inherit the property of individuals and legal persons shall be protected according to law, as well as the right of the owner of the property expropriated in accordance with the law to receive compensation. We will implement the Company Law and other laws and regulations to strengthen the protection of small and medium-sized investors. We will intensify punishment for intellectual property infringement, and establish and improve mechanisms for classifying credit supervision and punishing trust-breaking of market players in the intellectual property field. We will strengthen the application of blockchain technology in intellectual property transaction and documentation, and explore new models suitable for the development of free trade ports.

(3) Free and convenient cross-border capital flows. We will ensure that the financial sector serves the real economy, focus on trade and investment liberalization and facilitation, open up capital accounts in stages, and promote the Hainan Free Trade Port and the free and convenient flow of overseas capital in an orderly manner.

We will build a multifunctional free trade account system. Based on the existing domestic domestic currency and foreign currency accounts and free trade accounts, Hainan will build a basic platform for financial opening-up. Through the separation of financial accounts, the "electronic purse Seine" of funds is established to provide basic conditions for the free and convenient flow of cross-border funds between Hainan Free Trade Port and overseas.

We will facilitate cross-border trade and investment flows. We will further promote the facilitation of cross-border trade in goods, trade in services and settlement of new types of international trade, and move from pre-inspection to post-inspection of the authenticity of banks. In terms of cross-border direct investment transactions, we will simplify management in accordance with the model of pre-establishment national treatment plus a negative list, improve the convenience of registration and exchange, and explore new forms of cross-border investment management that meet market demands. In the area of cross-border financing, we will explore the establishment of a new foreign debt management system, pilot a foreign debt management framework for the consolidation of transactions, improve the record and registration system for corporate foreign debt issuance, implement full-scope macro-prudential management of cross-border financing, steadily expand the scope of cross-border asset transfer, and improve the facilitation of foreign debt exchange. In the field of cross-border securities investment and financing, the focus is on serving the investment and financing needs of the real economy, supporting the development of industries with Hainan's characteristics and comparative advantages, giving priority to overseas listing and bond issuance, and simplifying exchange management.

We will open the financial sector wider to the outside world. We took the lead in implementing the policy of further opening up the financial sector in the Hainan Free Trade Port. We will support the development of international trading venues for energy, shipping, property rights and equity. We will accelerate the development of settlement centers.

We will accelerate financial reform and innovation. We will support the innovation and standardized development of housing rental finance, and support the development of real estate investment trusts (REITs). We will steadily expand various forms of industrial financing channels and expand the scope of capital use for foreign-funded enterprises. Innovative technology finance policies, products and tools.

(4) Free and convenient access for personnel. According to the development needs of Hainan Free Trade Port, more open talent and residence policies will be implemented for high-end industrial talents to create a talent gathering highland. On the premise of effective prevention and control of foreign security risks, we will implement more convenient exit and entry management policies.

It provides entry and exit convenience for high-level foreign talents in investment and entrepreneurship, lectures and exchanges, and economic and trade activities. We will improve the international talent evaluation mechanism, take salary level as the main indicator to evaluate the categories of human resources, and establish a market-oriented talent mechanism. We will implement a negative list of work permits for foreign nationals working in the Hainan Free Trade Port, and relax the stop and residence policy for foreign professionals with technical skills. Qualified overseas personnel are allowed to serve as legal representatives of legal institutions, public institutions and state-owned enterprises in the Hainan Free Trade Port. Temporary entry and exit policies for business personnel will be relaxed.

Establish and improve the personnel service management system. Work permit, visa and residence information sharing and joint examination and inspection will be implemented. We will promote the establishment of talent service centers, provide employment, education and life services, and protect their legitimate rights and interests.

We will implement more convenient immigration control policies. The visa-free entry policy will be gradually applied to a wider area and the duration of visa-free stay will be gradually extended. We will improve the management of exit and entry border inspection, and facilitate entry and exit customs clearance for business people and cruise ships.

(5) Free and convenient transportation. We will implement a highly free, convenient and open transport policy, promote the development of new land and sea routes in the western region, an international shipping hub and an aviation hub, and accelerate the building of a modern comprehensive transport system.

Establish a freer and more open shipping system. Construction of "China Yangpu Port" ship registration port. To support the Hainan Free Trade Port in carrying out ship registration. To study and establish the shipping management system and seafarers management system of Hainan Free Trade Port. We will further relax airspace control and restrictions on air route rights, optimize shipping routes, and encourage the expansion of shipping capacity and the opening of more flights.

We will improve transport facilitation and service security. Promote joint ship landing inspection. We will build efficient, convenient and high-quality special supervision policies for flag states. We will provide more high-quality and efficient financial services for the financing of ships and aircraft, lift restrictions on overseas financing of ships and aircraft, and explore ways to replace deposits with insurance. We will strengthen the construction of facilities and equipment related to the transportation and customs clearance facilitation between the free trade ports of the mainland and Hainan, rationally allocate personnel, and improve the freedom and convenience of transportation.

(6) Safe and orderly flow of data. On the premise of ensuring the safe and controllable flow of data, we should expand the opening-up of the data field, innovate the design of the security system, realize the full convergence of data, and cultivate and develop the digital economy.

We will open up communications resources and services in an orderly manner. We will open up value-added telecommunications services and gradually lift restrictions on foreign ownership. Enterprises with entity registration and service facilities in Hainan Free Trade Port are allowed to carry out online data processing and transaction processing and other businesses for the whole region and internationally, and gradually carry out business for the whole country under the premise of safety and control. Open basic telecommunications services in a safe and orderly manner. We will carry out trials for data exchange on the Internet, build international submarine optical cables and landing points, and set up an international communications import and export bureau.

Modern industrial system. We will vigorously develop tourism, modern service industries, and new and high-tech industries to strengthen the foundation of the real economy and enhance the competitiveness of our industries.

Tourism. Adhere to ecological priority and green development, focus on the construction of an international tourism consumption center, promote the deep integration of tourism with culture and sports, health care, pension and health care, improve the development level of Boao Lecheng International medical tourism Pilot Zone, support the construction of cultural tourism industrial park, develop characteristic tourism industry clusters, cultivate new forms and models of tourism, and create an all-regional tourism demonstration province. We will accelerate the development of Sanya into an international cruise home port, support the construction of a cruise tourism pilot zone, and attract the registration of international cruise ships. Set up a pilot zone for yacht industry reform, development and innovation. We will support the creation of national tourism resorts and 5A scenic spots.

Modern service industry. Gather global innovation factors, deepen internal and external opening-up, and attract multinational corporations to set up regional headquarters. We will make innovations in port management systems and mechanisms, promote the integration of port resources, expand the industry chain of shipping services, promote the development of bonded warehousing, international logistics and distribution, entrepost trade, bulk commodity trade, exhibition and sale of imported commodities, circulation and processing, and container unpacking, improve our capacity for global supply chain service management, build an international shipping hub, and promote the integrated development of ports, industries and cities. We will build an international design island in Hainan, an international education innovation island in science, technology, agriculture and medicine, and a regional international convention and exhibition center, and open more professional services to the outside world. China will improve Marine service infrastructure, actively develop Marine logistics, Marine tourism, Marine information services, Marine engineering consulting, maritime finance, and maritime commerce, and build an internationally competitive Marine service system. To build a national cultural trade base with foreign countries.

High and new technology industry. Focus on the platform carrier, upgrade the industrial level, with the Internet of Things, artificial intelligence, blockchain, digital trade as the focus of the development of information industry. Relying on the Wenchang International Space City and Sanya Deep Sea Science and Technology City, China will develop major science and technology infrastructure and platforms to foster deep sea and space industries. We will strengthen the advanced manufacturing industry around ecological and environmental protection, biomedicine, new-energy vehicles, and intelligent vehicles. We will give full play to the advantages of the national scientific research and breeding base of southern propagation, and build a global tropical agriculture center and a global transfer base for the introduction of plant and animal germplasm resources. Building a smart Hainan.

(8) Taxation system. In accordance with the principles of zero tariff, low tax rate, simple tax system, strong rule of law and phased implementation, we will gradually establish a tax system compatible with high-level free trade ports.

Zero tariffs. Before the island-wide closure, some imported goods will be exempted from import duties, value-added tax and consumption tax. After the whole island is closed and the tax system is simplified, goods that are not included in the list of goods subject to import tax and are allowed to be imported into Hainan Free Trade Port will be exempted from import duties.

Low tax rates. The preferential corporate income tax rate shall be applied to enterprises that have substantive operations in the Hainan Free Trade Port. Preferential individual income tax rates will be applied to qualified individuals.

Simplify the tax system. Combined with the direction of our tax reform, we will explore the simplification of tax system. We will reform the tax system, reduce the proportion of indirect taxes, and achieve a simple and scientific tax structure, fully optimized elements of the tax system, significantly reduced tax burdens, clear attribution of revenue, and general balance between revenue and expenditure.

Strong rule of law. Tax administration departments shall assess and give early warning to tax payment behaviors according to the principle of the location of real economic activities and the place of value creation, formulate simple and feasible criteria for determining the real place of business and the place of residence, strengthen the identification of tax evasion risks, prevent tax base erosion and profit transfer, and avoid becoming a "tax haven". We will actively participate in international cooperation on tax collection and administration, and strengthen the sharing of tax-related information. We will strengthen credit classification services and management in the tax field, and take corresponding measures against enterprises and individuals breaking the law and breaking the trust according to laws and regulations.

In stages. According to the different stages of the construction of Hainan free trade port, the arrangement of zero tariff, low tax rate and simple tax system will be implemented step by step to form a tax system with international competitiveness.

Social Governance. We will push forward the reform of government institutions and the transformation of government functions, encourage the integration and application of blockchain and other technologies in the modernization of governance systems and capabilities, and build a comprehensive, scientific, standardized and effectively functioning free trade port governance system.

We will deepen the reform of government institutions. Hainan will further promote the reform of large department system, integrate similar or similar functions and responsibilities scattered in various departments, and promote the merger of departments with similar functions. We will control the proportion of comprehensive administrative civil servants, tilt the number of administrative personnel toward supervisory departments, and introduce a market-oriented professional personnel appointment system.

Promoting the transformation of government functions. We will strengthen regulatory legislation and enforcement, strengthen the application of the social credit system, deepen the "double random and open" market oversight system, and exercise inclusive and prudent oversight over emerging business forms. We will give full play to the role of Internet Plus, big data, blockchain and other modern information technologies, standardize government service standards through government services and other platforms, reengineering government processes and make government services "all-in-one", strengthen the orderly sharing of data, and improve government services and governance. The promises made by the government must be earnestly fulfilled, and compensation or compensation shall be made promptly for losses caused by failure to fulfill the promises or inadequate implementation.

We will build a social governance system featuring joint contribution, joint governance and shared benefits. We will deepen the reform of the household registration system, further relax the household registration transfer policy, and implement an island-wide residence permit system that is uniquely identified by a citizen's identity number. We will grant greater autonomy to industry organizations and give full play to their important role in maintaining market order, formulating and implementing standards, and settling industrial disputes. We will give communities greater authority to govern at the grassroots level, and accelerate innovation in community services and governance.

We will develop new systems and mechanisms for promoting ecological progress. We will promote the development of a national pilot zone for ecological progress (Hainan), comprehensively establish a system for efficient use of natural resources, and improve the system of property rights and paid use of natural resources. We will make solid progress in developing a national land planning system and implement differentiated control over the use of natural ecological space. We will improve the system of franchise rights for natural resource assets in protected natural areas, and explore mechanisms for realizing the value of ecological products. National parks such as tropical rainforests should be established to build a system of protected natural areas with national parks as the main body. We will explore ways to establish a sustainable compensation mechanism for ecological protection that is led by the government and involves enterprises and the public. We will accelerate the establishment of a unified natural resources survey, evaluation, monitoring and registration system. We will improve the system for monitoring and evaluating the ecological environment.

(10) Rule of law. Establish a free trade port rule of law system based on the Law of Hainan Free Trade Port, with local regulations and commercial dispute settlement mechanism as important parts, and create a world-class free trade port rule of law environment.

We formulated and implemented the Hainan Free Trade Port Law. To clarify the institutional arrangements of free trade ports in legal form and provide principled and basic legal guarantee for the construction of free trade ports.

Formulate laws and regulations for special economic zones. On the premise of following the provisions of the Constitution and the basic principles of laws and administrative regulations, we will support Hainan in fully exercising the legislative power of special economic zones, and formulate laws and regulations for special economic zones based on the reality of building a free trade port.

Establish diversified commercial dispute settlement mechanisms. We will improve the centralized trial mechanism for international commercial disputes, and provide international commercial arbitration, international commercial mediation and other non-litigation dispute resolution methods.

(11) Risk prevention and control system. We will formulate and implement effective measures to prevent and defuse major risks in trade, investment, finance, data flow, ecology and public health.

Prevention and control of trade risks. Build infrastructure and supervision facilities of open ports and "second-tier ports" with high standards, increase information system construction and investment in scientific and technological equipment, implement intelligent and accurate supervision, and form an information platform for social management in Hainan by relying on the "three lines of defense" of "people flow, logistics and capital flow" information management system, social management and supervision system, and port supervision system. We will carry out all-weather dynamic monitoring over non-designated areas. We will strengthen supervision in specific areas, set up comprehensive law enforcement stations in areas without port inspection organs, and conduct real-time monitoring and handling of vehicles, goods and articles. Goods, articles, persons and means of transport entering and leaving the Hainan Free Trade Port and the mainland need to enter and exit through the port. Improve the configuration of port supervision equipment and facilities. The Customs is responsible for the control and detection of smuggling at ports of entry and other customs surveillance areas. The Hainan Provincial Government is responsible for the comprehensive anti-smuggling control work of the province and evaluates the comprehensive anti-smuggling control work of the lower level governments. Establish a joint anti-smuggling prevention and control mechanism with Guangdong Province and Guangxi Zhuang Autonomous Region.

Investment risk prevention and control. We will improve the process supervision system that is compatible with investment rules, and strictly implement the review responsibilities of the filing acceptance institutions and the filing responsibilities of the filing subjects. We will clarify rules and standards for strengthening process oversight, consolidate oversight responsibilities, and exercise effective oversight over the whole life cycle of investment and business activities in accordance with the law. We will exercise inclusive and prudent oversight over new technologies, new industries, new forms of business, and new models, and focus oversight on high-risk industries and areas. We will establish and improve a legal liability system, and formulate strict disciplinary measures against archival subjects for providing false archival information and illegal business operations. We will properly conduct security reviews for foreign investment, and effectively guard against national security risks while creating a stable, transparent and predictable investment environment.

Prevention and control of financial risks. We will improve the financial infrastructure and legal environment, strengthen the protection of the rights and interests of financial consumers, and establish a sound system for monitoring and risk prevention and control of capital flows, relying on the capital flow information monitoring and management system. We will establish a macro-prudential management system for cross-border capital flows in free trade ports, and strengthen the identification of major risks and the prevention of systemic financial risks. China will strengthen the review of anti-money laundering, anti-terrorist financing and anti-tax evasion, study the establishment of a money-laundering risk assessment mechanism, and regularly assess the risks of money laundering and terrorist financing. Establish a financial regulatory coordination mechanism that ADAPTS to the construction of Hainan Free Trade Port.

Cybersecurity and data security risk prevention and control. We will thoroughly implement the hierarchical network security protection system, focus on ensuring the security of critical information infrastructure and data, improve the network security guarantee system, and enhance the capacity and level of network security guarantee related to the construction of Hainan Free Trade Port. Establish a sound data exit safety management system. Improve data flow risk control measures.

Public health risk prevention and control. We will strengthen the public health prevention, control and treatment system, establish platforms for monitoring and warning of infectious diseases and public health emergencies, as well as a decision-making and command system, and improve our capacity for early prevention, risk assessment and timely response. We will strengthen the construction of the disease prevention and control system, establish provincial centers for disease control and prevention with high standards, set up the Hainan branch of the National Center for Tropical Diseases Research, accelerate the construction of infrastructure for disease control and prevention institutions at all levels, and optimize the allocation of laboratory testing resources. We will strengthen the construction of public health professionals, and improve our capacity for monitoring and early warning, inspection and testing, on-the-spot epidemiological investigation, emergency response and medical treatment. We will build a level-III laboratory for biosafety protection and an Institute for Infectious disease Prevention and control, strengthen the capacity for comprehensive testing and rapid screening, and optimize the system for stockpiling important health emergency supplies and ensuring production capacity. We will improve and optimize the treatment system for major epidemics, build a medical service network for infectious diseases, set up provincial and municipal infectious disease medical centers relying on general hospitals or specialized hospitals, and improve the infrastructure and medical conditions of infectious disease medical centers and hospitals. We will focus on strengthening the capacity of community-level infectious disease medical services and improving the capacity of county-level general hospitals for infectious disease diagnosis and treatment. To build a grid compact medical group, and promote the sinking of resources and the integration of medical treatment and prevention. We will improve the standardization of community-level medical and health care institutions, and strengthen our capacity for diagnosis and treatment of common diseases, public health services, and health management. Strengthen cooperation on international health and quarantine and the collection and analysis of international epidemic information, improve the technical facilities for port health and quarantine, build a first-class international travel health care center, strictly implement the health declaration system for entry-exit personnel, strengthen health and quarantine of vehicles, people, goods and articles from key countries or regions, strengthen joint prevention and control, and build a strong quarantine line at ports. We will strengthen global surveillance of infectious diseases, promote early warning of the risks of infectious diseases abroad, and strictly prevent the cross-border spread of major infectious diseases. China has established a joint prevention and control mechanism for overseas disease outbreaks and pests in collaboration with customs and other departments. We will improve our capacity for early warning and rapid response oversight of quality and safety risks of import and export commodities, and improve oversight of key and sensitive import and export commodities.

Ecological risk prevention and control. We will implement a strict entry and exit environment safety access management system and prohibit the importation of foreign garbage. We will promote the construction of facilities for the disposal of medical waste and other hazardous wastes, and improve our ability to prepare and respond to ecological and environmental emergencies. Establish and improve the environmental protection credit evaluation system.

Iii. Make arrangements step by step

Key tasks before 2025. Focusing on trade and investment liberalization and facilitation, we should advance the opening-up process in an orderly manner on the basis of effective regulation, facilitate the convenient and efficient flow of various factors of production, achieve early harvest, and launch the island-wide closure operation at an appropriate time.

We will strengthen the construction of special customs supervision areas. The Yangpu Bonded Port Area and other qualified areas under special customs supervision took the lead in implementing the import and export management system with "first-line" opening and "second-line" control. To meet the needs of Hainan's free trade port construction, additional special customs supervision areas will be established.

We will implement a zero-tariff policy on some imported goods. In addition to the goods that are clearly not exempt from duty and the import is prohibited by state regulations, enterprises import production equipment for their own use and implement the "zero tariff" negative list management. The positive list management of "zero tariff" shall be implemented for vessels, aircraft and other operational means of transport and yachts imported from the island for transportation and tourism. The positive list management of "zero tariff" shall be implemented for the raw and auxiliary materials imported from the island for self-use or in the process of production and processing (or service trade) in the mode of "two ends out"; Inbound goods consumed by residents on the island shall be subject to positive list management, allowing duty-free purchases on the island. Goods and articles subject to the "zero tariff" list management will be exempted from import duties, value-added tax and consumption tax on imports. The contents of the list are dynamically adjusted by relevant departments according to the actual needs and regulatory conditions of Hainan. The duty-free shopping quota on outlying islands will be relaxed to 100,000 yuan per person per year, and the types of duty-free goods will be expanded.

We will reduce restrictions on cross-border trade in services. We will take the lead in standardizing domestic regulations that affect the freedom and convenience of trade in services in key areas. China has formulated a negative list for cross-border service trade at the Hainan Free Trade Port, and granted national treatment to overseas service providers. Establish the Hainan International Intellectual Property Exchange, carry out institutional innovations in the transfer, application and taxation policies of intellectual property, and standardize and explore the securitization of intellectual property.

We will implement a "minimalist approval" investment system. We formulated a special list of market access and a negative list for foreign investment for the Hainan Free Trade Port. For foreign-invested enterprises established in specific service sectors that have been opened up in advance, the geographical scope of business coverage shall be specified. We will establish and improve national security review, environmental standards for industrial access, and social credit systems, and implement a minimalist review and approval system across the board. We will deepen the reform of separating certificates and licenses. Establish a sound process supervision system based on credit supervision and compatible with negative list management.

Pilot reform of cross-border securities investment and financing policies. Support domestic enterprises registered in Hainan Free Trade Port to issue stocks overseas in accordance with domestic and foreign financing plans, give priority to supporting enterprises to issue bonds overseas for financing, and delegate the management of the record registration system of foreign debt issued by enterprises to the Hainan provincial development and reform department. We will explore pilot projects for cross-border asset management and make cross-border securities investment and financing exchanges more convenient. Enterprises in the Hainan Free Trade Port will be piloted to register foreign exchange for overseas listing directly with banks.

We will accelerate the opening up of the financial sector. We will foster and enhance the capacity of Hainan's financial institutions to serve opening-up, and support the opening up of the financial sector in taking the lead in the implementation of the Hainan Free Trade Port. Support qualified overseas securities fund and futures operating institutions to set up wholly-owned or joint venture financial institutions in Hainan Free Trade Port. Support financial institutions to innovate financial products and improve service quality based on the development needs of Hainan's key industries such as tourism, modern service industry and high-tech industry. Relying on the construction of Hainan Free Trade Port, promote the development of related OTC derivatives business. Support Hainan to promote the construction of property rights trading venues on the premise of optimizing and upgrading existing trading venues, and study allowing non-residents to participate in trading and fund settlement in accordance with regulations. Support the establishment of rules and systems in line with international practices in the membership, trading, tax burden, clearing, delivery, protection of investors' rights and interests, anti-money laundering and other aspects of the trading venues already established in the Hainan Free Trade Port. To support the establishment of property insurance, life insurance, reinsurance companies, mutual insurance organizations and captive insurance companies in the Hainan Free Trade Port on the premise of complying with relevant laws and regulations.

We will strengthen the ability of the financial sector to serve the real economy. We will support the issuance of corporate credit bonds, project revenue bills, and special housing rental bonds. We will promote pilot securitization of high-quality tourism assets with stable cash flows. Support financial institutions to carry out insurance policy financing, warehouse receipt pledge loans, accounts receivable pledge loans, intellectual property pledge financing and other businesses in the field of service trade under the premise of law and compliance and effective risk prevention. We will support sea-related high-tech enterprises in financing by using equity and intellectual property rights as collateral, and develop shipping logistics financial products and supply chain financing products in a standardized and steady manner. Hainan Free Trade Port is the first to implement research achievements in fintech fields such as artificial intelligence, big data and cloud computing in an orderly manner. We will explore ways to establish commercial medical insurance services in line with the international payment system for commercial insurance. Support insurance financial institutions to cooperate with overseas institutions to develop cross-border medical insurance products.

We will make visa-free entry easier. The visa-free entry channel for foreigners will be expanded from the invitation reception of travel agencies to the visa-free entry of foreigners who declare themselves or receive by invitation of units. Restrictions on visa-free entry to Hainan will be relaxed, allowing foreigners to apply for visa-free entry to Hainan for business, visits, family visits, medical treatment, exhibitions, sports competitions and other purposes. We will implement a 15-day visa-free policy for foreign tourist groups taking cruise ships.

We will implement a more open ship transport policy. With "Yangpu Port of China" as the registered port of ships, China has simplified the inspection process, gradually liberalized the legal inspection of ships, established an international ship registration center at the Hainan Free Trade Port, and innovatively set up convenient and efficient ship registration procedures. The restriction on foreign ownership of the subject of ship registration shall be abolished. On the premise of ensuring effective supervision and control of risks, vessels built within China registered in the "Yangpu Port of China" and engaged in international transportation shall be regarded as exports and shall be granted export tax refund. For domestic vessels engaged in domestic and foreign trade transport at Yangpu Port as a transit port, they are allowed to refuel bonded oil required for the current voyage; The policy of export tax refund shall be adopted for the refueling of locally produced fuel oil required for the current voyage. For container goods that meet the conditions and leave through Yangpu Port, the tax refund policy at the port of departure will be tried out. We will accelerate the integration of ports and shipping in the Qiongzhou Strait.

We will implement a more open air transport policy. On the basis of reciprocity, promote the opening of the third and fourth traffic rights to and from Hainan by carriers of both sides in the bilateral air transport agreement, and expand the traffic rights arrangements necessary for the construction of Hainan free trade port, including the fifth traffic rights, according to China's overall air transport policy. We will support the opening of seventh traffic rights in Hainan on a pilot basis. Airlines from relevant countries and regions are allowed to carry passenger and cargo services from Hainan to a third country (region). Combined air transport of passengers and their luggage in international transit will be implemented. Support the main base airlines in Hainan in developing international routes. Flights to and from Hainan Island will be allowed to refuel bonded jet fuel.

Facilitate data flow. Under the framework of the national security management system for cross-border data transfer, trials will be carried out to manage the security of cross-border data transfer, and mechanisms will be explored to facilitate the flow of data and ensure security.

We will deepen industrial opening up. Support the development of headquarters economy. To hold the China International Consumer Goods Expo, the import and sale of overseas exhibits at national exhibitions will be subject to duty-free policies during the exhibition period. The duty-free policies shall be formulated by relevant departments. To support Hainan in introducing high-quality medical resources from abroad. To sum up the pilot experience of regional medical center construction, study and support the construction of regional medical center in Hainan. We will allow overseas high-level universities of science, engineering, agriculture and medicine and vocational schools to independently run schools and establish international schools in Hainan Free Trade Port. We will encourage key domestic universities to introduce well-known foreign universities to establish Chinese-foreign cooperative educational institutions with independent legal personality in Hainan Free Trade Port. Building Hainan National blockchain Technology and industrial innovation and development base.

We will improve tax policy arrangements. From the date of promulgation of this plan, enterprises in encouraged industries registered in Hainan Free Trade Port with substantial operations will be taxed at a reduced rate of 15%. Enterprises in tourism, modern service and high-tech industries established in Hainan Free Trade Port will be exempted from enterprise income tax on their new overseas direct investment before 2025. For qualified capital expenditures of enterprises, one-time pre-tax deductions or accelerated depreciation and amortization are allowed in the expenditures during the current period. High-end talents and those in short supply working in the Hainan Free Trade Port will be exempted from the actual personal income tax burden of more than 15 percent. List management shall be implemented for high-end talents and talents in short supply who enjoy the above preferential policies, and specific management measures shall be formulated by Hainan Provincial Ministry of Commerce and Finance and the State Administration of Taxation.

We will increase central government financial support. The central government will arrange comprehensive financial subsidies to make up for the reduced revenue of local governments. We will encourage Hainan to issue local government bonds within the quota approved by The State Council to support the construction of free trade port projects. On the premise of effectively preventing risks, we will steadily increase the amount of special bonds issued by local governments in Hainan to support major infrastructure construction. We will encourage the issuance of local government bonds to qualified foreign investors around the world at the Hainan Free Trade Port. Hainan will set up an investment fund for the construction of Hainan Free Trade Port by pooling the central funds and its own financial resources, which will be operated in a market-oriented manner guided by the government.

Give full legal authority. The reform policies and measures proposed in this plan shall be implemented only with the unified authorization of the National People's Congress and its Standing Committee or The State Council if they involve the adjustment of existing laws or administrative regulations. We will study and simplify the working procedures for adjusting existing laws and administrative regulations to ensure their implementation as soon as possible. We authorized Hainan to enact regulations on cancellation of business affairs in a free trade Hong Kong, on bankruptcy, on fair competition, and on expropriation and requisition. We will accelerate the enactment of the Hainan Free Trade Port Law.

We will strengthen security for land and sea use. Authorized Hainan to, on the premise that it does not break the ecological protection red line specified in Hainan's territorial space plan, such important indicators as the area of permanent basic farmland, the amount of cultivated land and forestland, and the total size of construction land, and ensure that the quality does not decrease, To examine and approve the adjustment of the distribution of cultivated land, permanent basic farmland, forest land and construction land in Hainan Province and include it in the territorial and spatial plans of Hainan Province and its cities and counties. We will actively promote coordinated and integrated development of urban and rural areas and reclamation areas as well as a new model of land used for construction in small towns, and make land for agricultural reclamation into assets. We will establish an intensive and economical land use system, evaluation criteria, and a policy system for activating and disposing of existing construction land. To summarize and popularize the experience of three pilot projects of rural land system reform in Wenchang, and support Hainan to further promote rural land system reform in the whole province. Sea use requirements for major national projects will be protected in accordance with the law.

Prepare for the operation of the seal. To formulate and promulgate the Hainan Free Trade Port's import tariff list, list of goods restricted from import, list of goods prohibited from import, list of goods restricted from export, list of goods prohibited from export, and management measures for means of transport, as well as the format of customs clearance documents with the Mainland customs, operating rules for customs clearance with the Mainland Customs and operating rules for export clearance, etc., and increase the number of ports open to the outside world. Construction of island-wide closure operation supporting facilities.

The island-wide lockdown operation will be launched in due course. By 2025, we will carry out a comprehensive assessment of the island-wide preparations for closure operations and plug up security loopholes. When conditions are mature, the island-wide customs closure operation will be implemented, and Yangpu Bonded Port Area, Haikou Comprehensive Bonded Area and other special customs supervision areas will not be retained. Relevant supervision implementation plans shall be formulated separately by relevant departments. At the same time of the island-wide closure operation, the current value-added tax, consumption tax, vehicle purchase tax, urban maintenance and construction tax, education surcharge and other taxes will be simplified in accordance with the law, and related work related to the collection of sales tax in the retail link of goods and services will be started.

Key tasks by 2035 We will further improve our opening-up policies and relevant institutional arrangements, fully realize free and convenient trade, investment, cross-border capital flow, personnel entry and exit, transportation, and safe and orderly flow of data, and promote the development of high-quality free trade ports.

We will make trade free and convenient. We will further innovate the customs supervision system, establish a system of non-tariff trade measures in line with the overall national security concept, and establish a management system of goods trade with free access, safety and convenience, so as to realize free access and convenience of overseas goods in the free trade port of Hainan. We will establish and improve relevant systems for cross-border payment services, foster a favorable market environment for payment services, improve the efficiency of cross-border payment services, and promote liberalization and facilitation of cross-border trade in services in accordance with laws and regulations.

We will make investment free and convenient. We will fully liberalize investment access, except in areas that involve national security, social stability, red lines for ecological protection, and major public interests. In areas with mandatory standards, an investment system of "standard system + commitment system" will be established. Market players can carry out investment and business activities if they make commitments to meet relevant requirements.

We will make cross-border capital flows free and convenient. Non-financial enterprises that meet certain conditions are allowed to borrow foreign debts independently according to their actual financing needs, and finally achieve full convertibility under the foreign debts of non-financial enterprises in Hainan Free Trade Port.

Free and convenient access for personnel. Restrictions on free movement of people will be further relaxed. We will implement more relaxed temporary entry and exit policies for business people and more convenient work visa policies, and further improve the residence system.

To achieve free and convenient transportation. Implement a special ship registration review system. Airspace control and restrictions on air traffic rights will be further relaxed. Domestic and foreign airlines will be encouraged to increase capacity and operate more flights. According to the bilateral air transport agreement, in the examination of foreign airlines' operating permits for international routes, priority will be given to issuing permits for international routes to Hainan.

Realize the secure and orderly flow of data. We will innovate the system design for data exit security, and explore more convenient methods for personal information security exit assessment. We will make institutional connections between the entry of personal information, explore ways to join regional institutional arrangements for cross-border flows of international data, and make data transmission more convenient. We will actively participate in the formulation of international rules for cross-border data flow, and establish standards and rules for data validation, data trading, data security and blockchain finance.

We will further reform the fiscal and tax systems. For enterprises registered in Hainan Free Trade Port with substantial operations (except negative list industries), the corporate income tax will be reduced by 15%. For individuals who have resided in the Hainan Free Trade Port for 183 days or more in a tax year, their comprehensive income and business income derived from the Hainan Free Trade Port shall be subject to individual income tax at three excess progressive tax rates of 3%, 10% and 15%. We will expand the authority of local taxation administration in Hainan. Corporate income tax and individual income tax are shared between the central and local governments, while sales tax and other domestic taxes are used as local revenues. Hainan is authorized to independently reduce, exempt or suspend government-managed funds other than those with the nature of ecological compensation, and independently set up administrative charges related to enterprises in light of the development needs of the free trade port. Administrative institutional fees at the central level shall be implemented in accordance with the unified regulations of the Central Committee. The central government's fiscal support policies will be adjusted in light of changes in the tax system, and the support will be increased. Further studying and improving the subsidy policy framework will provide reference for our country to participate in the formulation of international regulations in the subsidy field.

Iv. Organization and implementation

1. Strengthen overall Party leadership. Establish and improve the Party's leadership system and mechanism for the construction of Hainan Free Trade Port, give full play to the Party's role of overall leadership and coordination, and strengthen the Party's leadership in all fields, aspects and links in the construction of Hainan free trade Port. With the political construction of the Party as the guide and the improvement of organizational strength as the focus, the quality of Party building should be comprehensively improved to provide a strong political guarantee for the construction of Hainan free Trade Port. We will strengthen the building of primary-level Party organizations, guide Party members to play a pioneering and exemplary role, and turn them into strong fighting fortresses in promoting the construction of Hainan's free trade port. We will improve the evaluation and evaluation system for officials that reflects the requirements of the new development concept and the correct view of performance. We will establish incentive mechanisms and mechanisms for tolerating and correcting errors, and give clear support and encouragement to officials who have the courage to take responsibility, work steadily and do not seek personal gains. We will integrate core socialist values into all aspects of economic and social development. We will strengthen discipline inspection and supervision, and create a positive environment for clean air and clean air.

2. Improve the implementation mechanism. Under the guidance of the Leading Group for Comprehensively deepening reform and opening up in Hainan Province, Hainan Province should earnestly fulfill its main responsibilities, strengthen organization and leadership, and make every effort to promote the construction of Hainan free Trade Port. In accordance with the requirements of this plan, relevant units of the central government and state organs should take the initiative to guide and promote the construction of Hainan Free Trade Port, further refine relevant policies and measures, formulate and introduce implementation plans, and ensure the effective implementation of the policies. The Office of Hainan Leading Group for Comprehensively Deepening Reform and Opening Up has led the establishment of a working group to guide the construction of Hainan Free Trade Port. Officials from the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the People's Bank of China, the General Administration of Customs and other departments have been sent to Hainan to guide the construction of Hainan free trade port, and relevant information has been reported to the leading group in a timely manner. The Development Research Center of The State Council organized an evaluation of the whole process of building the Hainan Free Trade Port, and led the establishment of an expert advisory committee to provide advice and suggestions for the development of the Hainan Free Trade Port.

3. Steadily implementing policies. We will step up efforts to urge the implementation of all policies and measures to achieve tangible results. We will carefully study and properly address new situations and problems encountered in the development of Hainan's free trade port, carry out pilot work on some major policies and measures, and actively yet prudently promote their implementation.