Big plans for Hainan - Free trade port and more

[ILC]

Can anyone translate or give more information about it?
http://www.gov.cn/zhengce/2020-06/01/content_5516608.htm

From what I heard there's going to be big changes.

E.g. tax income for residents 3, 5, and only 15%.

https://twitter.com/x/status/1267805571987668994

@Mista
@Paul2

 

[Paul2]

Xi has some unusual fondness of the island. Lots of candies are being thrown to the Hainan provincial government these days.

Things like free trade zones, and perks like alternate legal regime is not something that could've been decided on the central committee level. I underline that "alternate" legal regime is really something quite unprecedented, and something that the party would normally be afraid to even talk about.

This is how big it can be if you become a favorite of the "core"

 

[Leishangthem]

An island of the future.

 

[Samlee]

Wow!!!!!!!!

 

[Zsari]

Xi has some unusual fondness of the island. Lots of candies are being thrown to the Hainan provincial government these days.

Things like free trade zones, and perks like alternate legal regime is not something that could've been decided on the central committee level. I underline that "alternate" legal regime is really something quite unprecedented, and something that the party would normally be afraid to even talk about.

This is how big it can be if you become a favorite of the "core"

The island serve as the base for consolidation in the South China Sea.

 

[tower9]

Xi has some unusual fondness of the island. Lots of candies are being thrown to the Hainan provincial government these days.

Things like free trade zones, and perks like alternate legal regime is not something that could've been decided on the central committee level. I underline that "alternate" legal regime is really something quite unprecedented, and something that the party would normally be afraid to even talk about.

This is how big it can be if you become a favorite of the "core"

I think the reason is because Hainan is a separate island where it is easy to contain issues if they arise from these policies. I heard they also planned to allow for the removal of the great firewall on Hainan until many Chinese netizens were angered by that idea because it gave the island privileges over the rest of the Mainland.

I read over the article. So basically no capital accounts freedom, no removal of the firewall, no independent judiciary, no gaming or gambling even, how is Hainan going to be the new Hong Kong? This is basically just mainland China but with no visas and no duties. That's not that special. I doubt Hainan is going to become a rival to HK because of this.

 

[leviathan]

I think the reason is because Hainan is a separate island where it is easy to contain issues if they arise from these policies. I heard they also planned to allow for the removal of the great firewall on Hainan until many Chinese netizens were angered by that idea because it gave the island privileges over the rest of the Mainland.

I read over the article. So basically no capital accounts freedom, no removal of the firewall, no independent judiciary, no gaming or gambling even, how is Hainan going to be the new Hong Kong? This is basically just mainland China but with no visas and no duties. That's not that special. I doubt Hainan is going to become a rival to HK because of this.

I belive you are right. Shenzhen is replacement for HK. Hainan is try to be tourist and shopping haven.

 

[8888888888888]

I think they want to turn it into a gambling hub, no idea if that can happen.

 

[tower9]

I belive you are right. Shenzhen is replacement for HK. Hainan is try to be tourist and shopping haven.

The only possible candidate for a replacement of Hong Kong is Macau, because it has a completely different system from the Mainland. If the PRC wanted Hainan to be a replacement for HK, then it needs to totally open up its internet, have an independent judicial system, no financial controls and open up its permanent residency visa.

 

[casual]

The only possible candidate for a replacement of Hong Kong is Macau, because it has a completely different system from the Mainland. If the PRC wanted Hainan to be a replacement for HK, then it needs to totally open up its internet, have an independent judicial system, no financial controls and open up its permanent residency visa.

It'll be a replacement for HK in the sense that mainland chinese will go to it and spend a ton of money buying foreign brands. I don't think china is interested in another independent city state like HK

 

[Reashot Xigwin]

Finally some actual good news from china. I'm looking forward to see what Hainan will become in the future.

Also to the Dumbo up post. Nothing will ever replace Hong Kong as one of the world financial center. I see Hainan will be more like another shenzen & Shanghai.

 

[Viva_Viet]

Can anyone translate or give more information about it?
http://www.gov.cn/zhengce/2020-06/01/content_5516608.htm

From what I heard there's going to be big changes.

E.g. tax income for residents 3, 5, and only 15%.

https://twitter.com/x/status/1267805571987668994

@Mista
@Paul2

Hainan is just a good place for tourism, but tourism industry is dead due to covid .

Nothing else Hainan can make. Tariff is still 25% for any places in CN,including Hongkong from now.

 

[Reashot Xigwin]

Hainan is just a good place for tourism, but tourism industry is dead due to covid .

Nothing else Hainan can make. Tariff is still 25% for any places in CN,including Hongkong from now.

Hainan is between spitting distance of Shanghai & Shenzen two of China most important manufacturing hub & its located in one of the most busiest sea trade lane. If China can take advantages of Hainan by expanding it's seaport & bringing in investors. Then expect Vietnam to suffers the most from it.

 

[Viva_Viet]

Hainan is between spitting distance of Shanghai & Shenzen two of China most important manufacturing hub & its located in one of the most busiest sea trade lane. If China can take advantages of Hainan by expanding it's seaport & bringing in investors. Then expect Vietnam to suffers the most from it.

Yeah.true, if Hainan can do that...but they failed, thats why Luxshare came to VN, not Hainan cos tariff is still 25% there.no different.

 

[Reashot Xigwin]

Yeah.true, if Hainan can do that...but they failed, thats why Luxshare came to VN, not Hainan cos tariff is still 25% there.no different.

Nobody cares about luxshare. Literally no one on the planet cares about it save for you.

I'm well informed in the business sector & even I don't know or care about it.