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China to roll out more policies liberalizing trade in Hainan: MOC

Abstract : China will roll out 28 policies and measures to further liberalize and facilitate trade in the Hainan free trade port, an official with the Ministry of Commerce (MOC) said on Monday.

Aerial photo taken on April 4, 2021 shows the construction site of Lingshui Li’An international education innovation pilot zone in Li’An peninsula of Lingshui Li Autonomous County, south China’s Hainan Province. (Xinhua/Guo Cheng)

BEIJING, April 12 (Xinhua) — China will roll out 28 policies and measures to further liberalize and facilitate trade in the Hainan free trade port, an official with the Ministry of Commerce (MOC) said on Monday.

The move is intended to better implement a master plan released on June 1 last year, which aims to build Hainan into a globally influential, high-level free trade port by the middle of the century, Vice Minister of Commerce Wang Shouwen told a press conference.

The policies will allow certain regions to relax their control of import and export qualifications for and quantities of commodities such as crude oil, refined oil and sugar, and cancel their licensing systems for imports such as mechanical and electrical products, he said.

The policies will also involve the improvement of supporting measures, including warning systems related to the quality and safety of imports and exports, as well as rapid response supervision capacities, said Wang. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China to roll out more policies liberalizing trade in Hainan: MOC

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