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Hainan releases 14th Five-year Plan for commerce development

ehainan.gov.cn | Updated: 2021-11-30

The Hainan Provincial Department of Commerce has released the 14th Five-Year (2021-25) Plan for Hainan's Commerce Development recently, which clarifies that by 2025, the market players in the foreign trade and investment sectors will increase substantially, the scale of consumption and foreign trade will grow rapidly, and the quality and efficiency of opening-up have will be significantly improved. 

The plan proposed specific tasks and measures in nine aspects, that is, promoting high-quality growth in trade, promoting a significant improvement in investment attraction, promoting consumption quality upgrading, promoting exhibition industry development, building an efficient business circulation system, strengthening international and regional economic and trade cooperation, completing port construction, optimizing the business environment and building a risk prevention and control system.

By 2025, a system for trade and investment liberalization and facilitation will be established. Hainan will continue to implement the duty-free policy for imported goods, and implement the cross-border service trade negative list. The role of facilitation platforms such as the "single window" for foreign trade and investment will further take effect. The overall customs clearance time will be greatly improved, and the port import and export clearance time will reach the national advanced level.

The plan also proposed that Hainan should strive to host exhibitions and conferences at a high level, such as the China International Consumer Goods Expo, the China Health Ecology Organization, and the World New Energy Vehicles Congress.