Wei Jianguo: the business environment in Hainan may be better than silicon valley in the future

 Wei Jianguo: the business environment in Hainan may be better than silicon valley in the future

Wei Jianguo (former Vice Minister of the Ministry of Commerce, vice president of China International Economic Exchange Center, columnist of Netease Research Bureau)

Global attention will be focused on China

In the current situation of unilateralism, trade protectionism and anti globalization, the introduction of the general plan for the construction of Hainan free trade port (hereinafter referred to as the plan) is an important strategic point for the innovation and development of socialism with Chinese characteristics, and also a very important measure for China in the new era of reform and opening up, which has sounded China The overall high-level March of opening up. It is a strong positive energy for the global fight against the epidemic and the recovery of the economy. The global attention will be focused on China and China will serve as an example. It can be seen that China plays a leading role in this round of reform and opening up, and also shoulders the banner in opposing hegemonism, unilateralism and promoting globalization.

Wei Jianguo

There are 60 dry goods in the plan, mainly focusing on the following aspects:

Second, we should stress reform and innovation and strengthen the awareness of innovation. In this respect, Hainan free trade port has greater autonomy than other free trade areas. For example, we should first explore the establishment of laws and regulations, have a more flexible and efficient regulatory model and management system, and make great efforts to break down the barriers to the flow of production factors and accelerate the opening up of the system. The general requirement is to drive the reform to deepen in an all-round way with high-level opening up, strengthen the integration of reform system, and pay attention to coordinated promotion, so that innovation in all aspects can cooperate with each other, complement each other, and improve the overall efficiency of reform and innovation.

Third, development goals. The plan not only plans the overall schedule and road map, but also puts forward specific implementation plans. The development goal of Hainan free trade port is to reach the first-class level in China, and to have influence and competitiveness in the world.

Five freedoms is a severe blow back to anti liberalization and anti globalization

The former free trade ports are all old-fashioned. Now we want to build a new free trade port characterized by freedom, fairness, rule of law and high-level supervision. At the same time, we need to realize free and convenient trade, free and convenient investment, free and convenient cross-border capital flow, free and convenient personnel access, free and convenient transportation and safe and orderly data flow. These five freedoms are a fierce counterattack against the current US led opposition to liberalization, globalization and investment facilitation.

Secondly, the design of system is very important. In the design of the system, the goal of free trade facilitation is three zeros - zero tariff, zero barrier and zero subsidy. The liberalization and facilitation system based on zero tariff is beneficial to the overall trade, including the trade in goods and services. And for foreign businessmen, both access and quasi operation are required. At present, some free trade zones allow foreign businessmen to enter, but it is not possible to restrict their business areas.

Second line is in control. When things come out of Hainan free trade port and enter the mainland, we should control them. However, there is a very good provision in this article: for the goods produced by the enterprises of the encouraged industries that do not contain imported materials or contain imported materials and are processed in Hainan free trade port with value-added more than 30% (including), they will enter the mainland through the second line and be exempted from import tariff, which virtually gives Hainan a great preferential policy. It is not the same as before, when entering the customs, all taxes should be levied.

Therefore, on the whole, the plan creates a free environment, including freedom of personnel, goods, currency, investment, and commitment system for market access, which are not available in other free trade areas.

On the whole, it is necessary to innovate and improve the system of investment freedom, facilitate the implementation of the process of investment with the focus on supervision, and ensure that everything must be done and everything is not disturbed. Whats more, a complete and fair competition system should be implemented in Hainan free trade port. Foreign capital, domestic capital, state-owned enterprises, small and micro enterprises should be treated equally in terms of the acquisition of production factors, the formulation of standards, the permitted business scope of access, etc. Break the administrative monopoly, prevent market monopoly and maintain the market order of fair competition. More importantly, the plan provides a reassuring pill - to improve the property rights protection system. We will strengthen the protection of small and medium-sized investors, increase the protection of intellectual property rights, establish a credit classification system, impose penalties, and strengthen the application of blockchain technology in intellectual property transactions and certificates.

Therefore, the biggest highlight of this reform is to support the tax, fee and finance. For the first time, the plan puts forward the negative list of the implementation of cross-border service trade of Hainan free trade port, plus the negative list of the implementation of foreign investment access of Hainan free trade port, including visa free, expanding the scope of cross-border assets, giving priority to supporting listed companies, building an international intellectual property exchange in Hainan, etc., all of which are strengthened through taxes, fees and finance.

Hainan free trade port will be the sea god needle of the South China Sea in the future

The construction of Hainan free trade port is the boldest, the most open, the highest level and the deepest major reform since Chinas reform and opening up. Taking the whole island as the implementation scope reflects our style and Chinas determination to further reform and opening up in the epidemic.

This is a test for Hainan and a great opportunity for the world. After the steady implementation of the plan, Hainan free trade port will surely be built into a leading and iconic free trade port in the world, so that the global benefits of capital, talents, goods, services, brands, culture, health care and education can be brought into full play in this free trade port.

Why Hainan is the construction site of free trade port? Because Hainan is not only Chinas strategic fulcrum for Southeast Asia, but also for the world. After Hainan free trade port, it was also the sea god needle of the South China Sea. Therefore, all departments should strengthen support and overcome difficulties in the construction process.

Hainan may form a better business environment than silicon valley in the United States

At present, Hainan should seize this opportunity, step by step, and promote this work in the spirit of nail in the nail. Although we are now under the influence of the epidemic, we need to carry out the plan in a spirit of bravery and courage. It is estimated that we will soon achieve some remarkable achievements.

Finally, the summary emphasizes three points:

This article is the exclusive contribution of Netease Research Bureau and does not constitute an investment decision.

Produced by Netease Research Bureau (wechat Company No.: wyyjj163)

Netease Research Bureau is a professional financial think tank created by Netease News. It integrates the original multimedia matrix of Netease financial, relies on the wisdom of hundreds of top economists at home and abroad, analyzes and interprets the hot topics of economics rationally and objectively, and creates a forward financial think tank with an attitude. Welcome to contribute (email: ce[email protected] uff09u3002

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