Hainan Free Trade Port Foreign Investment Regulations Will be Released
ISSUING AUTHORITIES:
Hainan Provincial Development and Reform Commission
Department of Commerce of Hainan Province
DATE OF ISSUANCE:
November 8, 2024
EFFECTIVE DATE:
November 8, 2024
The Hainan Provincial Development and Reform Commission and the Department of Commerce of Hainan Province jointly published the Hainan Free Trade Port Foreign Investment Regulations (Draft for Comments) (the “Draft Regulations”) with a deadline for comments of December 8, 2024.
The Draft Regulations consist of six chapters, i.e., general provisions, opening-up expansion, investment promotion, investment protection, investment administration and services, and supplementary provisions. Specifically, the people’s governments at or above the county level and parks shall establish a specialized and market-oriented investment attraction mechanism, devote more efforts to targeted investment attraction, and carry out foreign investment promotion events via multiple channels in consideration of location advantages and industrial characteristics. The Hainan Free Trade Port shall implement the system of market access upon commitment based on the principle of consistency for domestic and foreign investment. Except for state security, social stability and other areas subject to access administration by the state, in the areas with mandatory standards, relevant licenses and approvals shall be legally canceled, and foreign-invested enterprises may carry out investment and business activities after making a written commitment on compliance with applicable requirements and submitting relevant materials for filing. Foreign-invested enterprises will be further encouraged to voluntarily practice the environmental, social, governance (ESG) standards and implement ESG information disclosure. Foreign-invested enterprises may enjoy tax, investment freedom and facilitation and other preferential policies in the Hainan Free Trade Port in accordance with relevant regulations.
Reference:
海南省發展和改革委員會 海南省商務廳 關于公開征求《海南自由貿易港外商投資條例（征求意見稿）》意見的公告
