China
Hainan free trade port outlines focus
The Hainan free trade port will establish one negative and three positive lists, focusing on high-tech, ecological and environmental protection and industries with local characteristics
Edited by Li Xiaoyang  ·  2020-06-08  ·   Source: China Daily

A view of Sanya Bay in Hainan Province (CHINA DAILY)

The Hainan free trade port will establish one negative and three positive lists, focusing on high-tech, ecological and environmental protection and industries with local characteristics, the Ministry of Finance said on June 8.

China is planning to build a high-quality free port in Hainan Province, south China in steps and phases, the ministry said.

"The implementation of the government's overall plan for the construction of Hainan Free Trade Port can be divided into two phases-the first phase to lay the foundation and make preparations and the second phase to comprehensively promote the development," Lin Nianxiu, Deputy Head of the National Development and Reform Commission said.

Hainan will strictly control real estate industry development and will not be "a processing plant for property projects", Liu Cigui, Party chief of the island province, said on June 8.

Liu told a news conference in Beijing that Hainan will develop the estate industry within its resources and environmental capability. "Hainan rejects being a processing plant for real estate projects," Liu said. "The amount of our land is limited, and we've already learned a lesson."

"We should not build a modern industrial development mode that relies on a single industry. While pursuing economic growth, we should also pay attention to environmental protection," Liu added. 
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