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China

Hainan Accelerates Institutional Innovation and Optimizes Business Environment

2023-08-17   

After refueling, all departments will operate according to the departure procedures. "On August 16th, with a long whistle, the 14th bonded oil refueling ship of Sinopec Hainan Refining and Chemical Co., Ltd. slowly departed from Yangpu Port in Hainan that month. Thanks to the further improvement of customs clearance facilitation policies, the number of bonded oil refueling ships exceeded 240 in the first seven months of this year, a year-on-year increase of over 100%. "said Song Pengjun, Deputy Manager of the Company's Production and Operation Department. The innovation of inspection and supervision models such as "immediate inspection and release" for exporting finished oil products has significantly improved the export capacity of relevant enterprises in Hainan Yangpu Economic Development Zone. In the first half of this year, the refining and chemical production capacity increased by 570000 tons, operating costs were saved by over 5.09 million yuan, demurrage fees were reduced by nearly 650000 yuan, and customs clearance time was shortened by more than 50%. "said Liu Guifang, Director of the Customs Inspection Department of Yangpu Economic Development Zone. Since the construction of Hainan Free Trade Port, Yangpu Economic Development Zone has launched a series of institutional innovation measures. According to the unified deployment, starting from April 13 of this year, the pilot expansion of 11 policy measures (the first batch) in Yangpu Bonded Port Area has been officially implemented, with the implementation scope expanding from 2.23 square kilometers in the bonded port area to 114.7 square kilometers in Yangpu Economic Development Zone. As a "model room" for the construction of Hainan Free Trade Port, the expansion of the implementation scope of policies in Yangpu Bonded Port Area will provide broader space for institutional integration and innovation, benefiting more business entities. We should take institutional innovation as the core, grant greater reform autonomy, support Hainan to boldly experiment, boldly explore, and independently reform, and accelerate the formation of a legal, international, and convenient business environment and a fair, open, unified, and efficient market environment. Creating a first-class business environment is an important feature and core competitiveness of the construction of Hainan Free Trade Port. The rule of law is the best business environment. Since the implementation of the Hainan Free Trade Port Law, as of June this year, Hainan has introduced 24 free trade port regulations, including regulations on optimizing the business environment and intellectual property protection, based on the principle of "urgent need to establish first" and "small cuts", to provide investors with a "reassurance". On July 13th, Zhongzhou Airlines, a settled enterprise in Jiangdong New Area, Haikou City, introduced a cargo plane with a cargo value of approximately 718 million yuan and a tax reduction of approximately 101 million yuan, setting a new high in the amount of single ticket benefits under the "zero tariff" policy for transportation and yachts in Hainan. Hainan has established a "zero tariff" full process supervision model for imported goods through integrated innovative practices such as dynamic inventory management, cross departmental coordination supervision, and risk control, helping to release the "zero tariff" policy dividend. As of the first half of this year, Haikou Customs has cumulatively supervised "zero tariff" goods worth 17.43 billion yuan, and reduced taxes by 3.17 billion yuan. Focusing on the liberalization and facilitation of trade and investment, Hainan is boldly trying, daring, and making independent reforms, and is accelerating the establishment of a policy and institutional system that is suitable for high-level free trade ports. With the full process traceability management of "China Yangpu Port" ship registration port and offshore duty-free goods, a batch of international connections have been made

Edit:XiaoWanNing Responsible editor:YingLing

Source:People's Daily

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