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*TheHainanFTPconstructionisinfullswingasthetropicalislandprovincefurtherdeepensreformandopeningupandmakesinstitutionalinnovationstoalignwithtopinternationalstandards.

*Overtheyears,morethan180policiesandmeasuresontariffexemptionsandtradeandinvestmentfacilitationhavegoneintoeffecttosupportthedevelopmentoftheHainanFTP.

*Salesofoffshoreduty-freeshopsintheprovinceareexpectedtoexceed80billionyuanthisyearafterexceeding60billionyuanin2021.

HAIKOU,April12(Xinhua)--Overthepastfiveyears,Chinahasmadesolidstridesinbuildingahigh-levelfreetradeport(FTP)initssouthernislandprovinceofHainan.

OnApril13,2018,ChinaannouncedadecisiontosupportHainanindevelopingthewholeislandintoapilotfreetradezoneandgraduallyexploringandsteadilypromotingtheestablishmentofafreetradeportwithChinesecharacteristics.

ThisaerialphototakenonOct.6,2022showsasectionoftheround-the-islandtouristhighwayinDanzhou,southChina"sHainanProvince.(Xinhua/PuXiaoxu)

ChinahascalledforacceleratingthedevelopmentofHainanintoanFTPwithChinesecharacteristicsandglobalinfluenceandmakingHainanintoaparadigmofreformandopeningupinthenewera.

TheHainanFTPconstructionisinfullswingasthetropicalislandprovincefurtherdeepensreformandopeningupandmakesinstitutionalinnovationstoalignwithtopinternationalstandards.

BUSTLINGFTPCONSTRUCTION

Hainanisdoingpreparationtasksandstresstestsforindependentcustomsoperationsandplanstofinishbuilding31necessaryinfrastructuresbytheendof2023,LiuXiaoming,actinggovernorofHainan,toldapressbriefingonWednesday.

AccordingtoamasterplanontheHainanFTPreleasedin2020bythecentralauthorities,theHainanFTPisscheduledtoinitiateindependentcustomsoperationsthroughoutthewholeislandbytheendof2025.

Asoneofthecountry"smajoropening-upmeasuresinthenewera,ChinaaimstobuildthewholeofHainanintoagloballyinfluentialandhigh-levelFTPbythemiddleofthecentury.

ThisaerialphototakenonNov.20,2021showstheexpansionprojectofHaikouMeilanInternationalAirportinHaikou,southChina"sHainanProvince.(Xinhua/YangGuanyu)

Overtheyears,morethan180policiesandmeasuresontariffexemptionsandtradeandinvestmentfacilitationhavegoneintoeffecttosupportthedevelopmentoftheHainanFTP.China"sLawontheHainanFTPwentintoeffectinJune2021.

Apartfromalistofzerotariffs,ChinaexemptedtariffsongoodsimportedtoandprocessedinHainanandthensoldelsewhereinChinaiftheprocessingtradeentitiesinHainanmeeta30percentvalue-addedthreshold.

AsofJanuarythisyear,Hainanhadexemptednearly3billionyuan(about435.7millionU.S.dollars)ofimportdutiesforthegoodssubjecttozerotariffsaswellasfortheprocessingtrade.

Chinaalsohascappedtheincometaxrateat15percentforeligiblecompaniesregisteredinHainanaswellasindividualswithhigh-levelandin-demandexpertiseworkinginHainan.

Hainanhasmade134institutionalinnovationsinFTPconstruction,ofwhicheighthavebeenorderedbytheStateCouncil,China"scabinet,tobecopiedinotherpartsofthecountry.

Thankstoinstitutionalinnovations,13majorindustrialparksoftheHainanFTP,withlessthantwopercentoftheprovince"slandarea,contributedover30percentofHainan"sinvestmentandover60percentofitsforeigntradein2022.

ThisaerialphototakenonFeb.26,2023showstheYangpuBondedPortAreaintheYangpuEconomicDevelopmentZone,southChina"sHainanProvince.(Xinhua/PuXiaoxu)

Inthenextstep,Hainanwillimplementhigh-standardinternationaleconomicandtraderules,andintegrateintotheglobalnetworkofhigh-standardfreetradezones,Liusaid.Itwillalsospeedupthedevelopmentofanexternal-orientedeconomyandcontinuetoimproveitsbusinessenvironment.

Liuaddedthatnewmarketentitiesaddedinthepastfiveyearsexceededthatofthethreedecadespriortotheperiod.

ThisaerialphototakenonFeb.8,2023showstheFullsingInternetIndustrialParkinHaikou,southChina"sHainanProvince.(Xinhua/YangGuanyu)

HIGH-QUALITYGROWTH

WiththebustlingFTPdevelopment,Hainan"sactualuseofforeigninvestmentgrew63.2percentonaverageannuallyoverthepastfiveyears,andthetotalinvestmentintheperiodexceededthatofthepriorthreedecades,ShenDanyang,executivevicegovernorofHainan,toldthesamepressbriefing.

Thestronggrowthcamethankstoaspateofinstitutionalinnovationsinforeigninvestmentfacilitation,promotion,andaccess,includingthecountry"sshortestnegativelistforforeigninvestment,Shenadded.

Theprovinceisalsoseekingtobuilditselfintoaninternationaltourismandconsumptioncenterwithboomingduty-freeshoppingovertheyears.

ThisaerialphototakenonApril4,2023showstheHaikouInternationalDuty-FreeShoppingComplexinHaikou,southChina"sHainanProvince.(Xinhua/YangGuanyu)

Salesofoffshoreduty-freeshopsintheprovinceareexpectedtoexceed80billionyuanthisyearafterexceeding60billionyuanin2021,Shensaid.Theprovincehasincreasedshoppingquotasandexpandedcategoriesofduty-freegoodstoboostduty-freeshopping.

Implementingthenewdevelopmentphilosophy,Hainanhascutitsheavyrelianceonrealestateandhasbeenspeedingupthedevelopmentofthemodernindustrialsystem.

ThisaerialphototakenonOct.17,2022showstheconstructionsiteofthedeep-seascienceandtechnologyinnovationpublicplatformofYazhouBayScienceandTechnologyCityinSanya,southChina"sHainanProvince.(Xinhua/YangGuanyu)

Liusaidthatfiveyearson,thecontributionstothegrossdomesticproductbythefourkeyindustriesoftourism,modernservicesindustry,high-techindustry,andtropicalhigh-efficiencyagriculturehadincreasedto70percentfrom53percent.

(ReportingbyLiuChanglin,LiBaojie,ZhongQun,ZhouHuimin,TuChaohua,WuMaohui;Videoreporters:FangKuan,ZhouXuan,GuoLiangchuan;Videoeditors:YuJiaming,LuoHui)