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China issues guideline on easing market access in Hainan free trade port

Updated: Apr 08,2021 11:40 AM    Xinhua

BEIJING — China issued a guideline to support easing market access in the Hainan free trade port in its latest effort to build the resort island into a globally influential, high-level free trade port.

The guideline, jointly released by the National Development and Reform Commission and the Ministry of Commerce on April 8, detailed measures to innovate market access in the pharmaceutical and health sectors, optimize financial market entries and development environment, and promote wider entries in the fields of culture and education.

China will support innovative development of homemade high-end medical equipment and high-end medical beauty industry in Hainan, as well as promote online sales of prescription drugs, the guideline said.

To optimize market access in the financial sector, efforts will be made to support the development of securities, insurance and funds in the province.

In terms of boosting entries in the cultural field, market access in the cultural relics sector will be widened, and Hainan will be supported to develop the industries of cultural performances and online gaming, the guideline noted.

Efforts will also be made to widen access in the field of education, and prestigious universities in the country will be supported to set up international colleges in Hainan.

Entries to civil aviation, sports and seeds markets in Hainan will be eased, according to the guideline.

China released a master plan for the Hainan free trade port on June 1 last year, aiming to build the province into a globally influential, high-level free trade port by the middle of the century.

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