Hainan Free Trade Port conference in Frankfurt draws over 300 European representatives

(People's Daily Online) 13:22, July 04, 2024

The "Invest in China" Hainan Free Trade Port Europe Conference, themed "Sharing Opportunities and Seeking Common Development," was held in Frankfurt, Germany, on July 3.

The event aimed to promote the construction and new investment opportunities of the Hainan Free Trade Port and enhance economic and trade cooperation with European businesses.

Hainan, China's southernmost province and closest to Southeast Asia, was designated by the Chinese government in 2018 as a free trade port.

The initiative includes policies such as zero tariffs, low tax rates, and a simplified tax system, which differ from those on the Chinese mainland.

The European conference in Frankfurt was a key step in implementing the agreements between the leaders of China and Germany, aiming to create a platform for European businesses to enter the Chinese and Southeast Asian markets.

During the conference, the Hainan delegation highlighted the special tax arrangements and policies for investment, trade, cross-border capital flows, personnel entry and exit, transportation, and data flow that set Hainan apart from the mainland. They also discussed the current state of Hainan's high-tech industry and shared investment opportunities in the clean energy, healthcare, tourism, and retail sectors.

The conference attracted over 300 representatives from prominent European enterprises, business associations, and media, covering sectors such as high-tech manufacturing, software engineering, finance, vehicle engineering, biomedicine, business consulting, international logistics, and international trade.

Attendees stated that the Hainan Free Trade Port offers unique policy advantages and a favorable development environment, making it an important partner for European businesses to expand into the Chinese market and achieve mutual benefits.

After the conference, several renowned European companies engaged in in-depth discussions with the Hainan delegation, exploring cooperation opportunities in the clean energy, education, high-end consumption, and healthcare sectors.

The conference received significant attention and strong support from China's Ministry of Commerce, underscoring Hainan's unique status as the only free trade port on the Chinese mainland and its role in China's opening-up.

Similar to Shenzhen in the 1980s and Shanghai Pudong in the 1990s, Hainan is emerging as a new frontier for China's reform and opening-up, becoming a new hotspot for investment and business.

Moving forward, the Hainan Free Trade Port will continue to embrace open cooperation, explore more opportunities with European industries, deepen bilateral relations, and expand areas of collaboration.

(Web editor: Hongyu, Liang Jun)


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