NDRC issued Opinions on Relaxing Market Access to Support Construction of Hainan Free Trade Port
ISSUING AUTHORITIES:
National Development of Reform Commission
Ministry of Commerce
DATE OF ISSUANCE:
April 8, 2021
On April 8, the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) issued the Opinions on Several Special Measures on Relaxing Market Access to Support the Construction of Hainan Free Trade Port (“Special Measures”), which proposes 22 opening measures in the fields of medicine, finance, education and culture, aerospace, and new energy to further expand the opening up of Hainan free trade port.
In the medical field, the Special Measures proposes to establish a Hainan electronic prescription center to sell prescription drugs on the Internet. The Special Measures also encourages the production of domestic high-end medical equipment in Hainan, expands access to the pharmaceutical market, and removes restrictions on access to contract research organizations (CROs). Moreover, it emphasizes the development of Hainan's high-end medical and beauty industry by approving the use of overseas medical beauty products in bulk. In addition, the Special Measures also proposes the facilitation of the transplantation sciences through all channels and proposes to establish a mixed fund for the development of Hainan's medical and health industry.
With regard to finance, the Special Measures supports securities, funds and other financial institutions planning to establish themselves in Hainan and encourages the development of various forms of pension finance such as medical health, long-term care and other commercial insurance. In addition, the Special Measures proposes a pilot project to develop the whole agricultural industry chain with the help of data and information sharing.
In the field of education and culture, Hainan will set up the China Hainan International Cultural Relics and Art Trade Center and further develop the cultural performing arts industry with the application of new technologies and the online game industry. Moreover, there are also proposals to promote the application of scientific research, the establishment of international colleges by well-known domestic universities and the development of vocational education.
The Special Measures will also optimize market access in the field of commercial aerospace, the civil aviation industry, sports, and rural tourism. Moreover, the proposals support Hainan's unified layout of new energy vehicle charging and switching infrastructure construction and operation to create an island-wide "one network" operation mode involving all relevant sectors.
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