Hainan will build a headquarters base for Chinese enterprises to enter overseas countries and regions like Southeast Asia, as well as a headquarters base for enterprises from overseas countries and regions to enter Chinese market.
Hainan is at the intersection of the country's dual circulation strategy, in which domestic and international markets reinforce each other, boasting the advantages of its free trade port policy. The establishment of the "two headquarters bases" will not only enable Hainan to play a role as a bridge and hub in cooperation and exchanges between China and Southeast Asia, as well as other overseas countries and regions, but will also help Hainan FTP become China's most important open portal.
There are 15 core measures to support the construction of the two headquarters bases. Foreign-funded enterprises from overseas countries and regions like Southeast Asia will be able to enjoy the preferential policy of the 15 percent corporate income tax rate. They will also enjoy "zero tariff" policy for some imports, the processing value-added duty-free policy, and the corporate income tax exemption policy.
Hainan will implement more convenient visa-free entry measures and a more open-air transport policy, as well as support the free and convenient flow of cross-border funds for Southeast Asia countries and regions.
The Hainan Provincial Bureau of International Economic Development will set up the Southeast Asia Investment Center in Hainan and an overseas representative office.
The province will also support cooperation with Southeast Asia countries and regions in the field of education, tourism, medical care, as well as the seed industry.
Since the adjustment of its COVID-19 pandemic prevention and control policy, Hainan delegations have visited Hong Kong, Indonesia, as well as Vietnam for investment promotion.
The Hainan FTP will achieve independent customs operations by the end of 2025. The province will make use of the two headquarters bases to help build a free trade port with the highest level of openness.
