Specifically, the goods trade policy measures 13 include: the first-line import and export of crude oil and refined oil in Yangpu Bonded Port Area is not subject to enterprise qualification and quantity management, imported sugar is not included in the total tariff quota management, the authority of bonded refueling license for international navigation ships is decentralized, and the pilot qualification examination and approval of relevant certification bodies is supported. There are 15 policy measures in service trade, including allowing overseas institutions to hold foreign-related economic and technological exhibitions independently except for "China", "China", "country" and "country", canceling the registration of foreign trade operators engaged in technology import and export activities, exploring the cancellation of auction enterprise approval and commercial franchise filing, supporting the establishment of national cultural export bases, and building national foreign cultural trade bases.
The notice also made it clear that the first-line import and export of crude oil and refined oil in Yangpu Bonded Port Area will not be subject to enterprise qualification and quantity management, while the second-line import and export will be governed by import and export laws and regulations. At the same time, in areas where the "first line" is liberalized and the "second line" is controlled, the administrative measures for mechanical and electrical import licenses are cancelled.
The relevant person in charge of the Ministry of Commerce said that these measures focus on the needs of the construction of Hainan Free Trade Port, promote the systematic integration and innovation of the policy system of trade freedom and facilitation, and help promote the high-quality development of trade in Hainan Free Trade Port.
Recently, there have been frequent favorable policies to support the construction of Hainan Free Trade Port. On April 9th, People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and Foreign Exchange Bureau issued Opinions on Financial Support for Hainan's Comprehensive Deepening of Reform and Opening-up, which put forward 33 specific measures from six aspects: improving the convertibility level of RMB, supporting the liberalization and facilitation of cross-border trade and investment, perfecting Hainan's financial market system, expanding Hainan's financial industry's opening to the outside world, strengthening the innovation of financial products and services, improving the level of financial services, and strengthening financial supervision to prevent and resolve financial risks.
On April 8, the National Development and Reform Commission and the Ministry of Commerce issued the Opinions on Several Special Measures to Support the Construction of Hainan Free Trade Port to Relax Market Access, proposing 22 measures to relax market access in the fields of medicine and health, finance, culture, education, commercial aerospace, civil aviation, sports, seed industry and new energy infrastructure.
Dongguan Securities pointed out that the state intends to make Hainan the largest special economic zone in China. With the simultaneous implementation of reform and opening up, it will help Hainan to build a multi-level and diversified capital market. The promotion and exploration of the Opinions will help to build Hainan's comprehensive financial market and increase the inflow of overseas funds and the presence of overseas financial institutions.
Chuancai Securities said that Hainan will rely on the free trade port policy to explore innovative business models and drive the formation of more innovative industrial chains. In addition to the traditional advantages of tourism, Hainan will also vigorously develop modern service industries and high-tech industries. It is expected that the "new infrastructure" in the region will also see rapid development in the process of accelerating the construction of subsequent trade ports.
Hua Fu Securities believes that with the gradual spread of vaccination in COVID-19 and the upcoming May Day holiday, Hainan's duty-free industry is expected to usher in further benefits, and it is recommended to pay attention to the duty-free sector.