(ECNS) -- Hainan Province is planning to roll out a package of measures to further open up to countries and regions such as Southeast Asia in 15 aspects, including taxation, import and export management and personnel exchanges.
Authorities of Hainan Free Trade Port on Wednesday released a document to solicit public suggestions on establishing headquarters to allow Chinese enterprises and their counterparts from countries and regions like Southeast Asia to enter each other’s market.
According to the document, foreign-funded enterprises invested by these countries and regions can enjoy a favorable corporate income tax rate of 15 percent in Hainan, and staff of these enterprises and citizens can enjoy a favorable individual income tax rate of 15 percent.
Hainan will expand its zero-tariff list in due course to include more competitive products from Southeast Asia and other overseas countries and regions.
The province will support enterprises from these countries and regions to enjoy the tariff-free policy of value-added processing and these enterprises can independently choose value-added processing policies of Hainan Free Trade Port or those agreed by the Regional Comprehensive Economic Partnership.
For qualified enterprises in tourism, modern service industry and high-tech industries established at Hainan Free Trade Port by these countries and regions, their income from newly-added overseas direct investment before 2025 can be exempted from corporate income tax.
Meanwhile, Hainan will implement more convenient visa-free entry measures to facilitate personnel exchanges. People from these countries and regions can apply for visa-free entry to Hainan for business, visits, family gatherings, medical treatment, exhibitions, sports competitions and other purposes. And the 15-day visa-free entry policy for cruise groups from these places will be implemented as well.
In addition, Hainan plans to set up special scholarship for students from these countries and regions and to expand cruise routes from Hainan.