Entrepreneurs increasingly confident in investing in Hainan FTP

Investors are becoming increasingly confident in Hainan Free Trade Port (FTP) after China passed a law related to Hainan FTP on June 10, and institutional arrangements were made for FTP construction at the national legislative level. 

"It will undoubtedly enhance investors' confidence and determination to invest in Hainan FTP and will attract more foreign investors to invest in Hainan," said Ji Guohui, deputy head of Hainan International Economic Development Bureau, who called the law "a milestone and inspiring". 

The formulation of the law is aimed at strengthening the coordination of systems and ensuring the stability and authority of FTP policies, added Ji. 

Gu Gang, Party chief of HNA Group, said the new law focuses on trade and investment liberalization and facilitation, giving Hainan greater reform autonomy and a certain degree of legislative autonomy, which will accelerate the building of a legal, international, and convenient business environment.

Meanwhile, the law also proposes the implementation of a free, convenient and open transportation policy, a relaxation of airspace control and route restrictions, and the optimization of the allocation of traffic rights resources, according to Gu.

"This will further attract more domestic and foreign airlines to open more routes and accelerate the construction of an international aviation hub in Hainan," said Gu.

Since the Hainan FTP law was promulgated, Hainan FTP has been granted a certain degree of legislative autonomy, which offers companies strong confidence, said Liu Wenmin, chairman of Qilu Pharmaceutical Hainan.

"We are very optimistic about the Hainan FTP and looking forward to enjoying more policy dividends in imported equipment, raw materials and auxiliary materials in the future," Liu said.

Leisure tourism company Fosun Tourism Group, also known as FOLIDAY, is a global industry leader. According to Qian Jiannong, chairman of the board and CEO of Fosun Tourism Group, the law encourages the flow of talents and will help Fosun Tourism Group to attract more high-quality global talents to participate in the upgrading of Hainan's cultural tourism industry.