Stories of High-Quality Development | Hainan builds 'showroom' for opening-up

In June 2020, a master plan for the construction of the Hainan Free Trade Port (FTP) was released. In the same year, Lin Guangming, a Singaporean, was invited to serve as the chief planner for the Yangpu Economic Development Zone Management Committee in south China's Hainan Province.

The Yangpu Economic Development Zone is a pilot zone and demonstration area for the Hainan FTP.

Lin's major responsibilities involve the formulation, management, and implementation of major plans for the economic development zone. Over the years, he has visited almost every piece of land in Yangpu and visited project sites many times to measure and understand the actual situation. His friends jokingly called him a person who is "in love with the land."

The accelerated implementation of the core policies of the Hainan FTP enables enterprises and residents to enjoy tangible benefits.

"For instance, in 2020, AUSCA International Oils and Grains Co., Ltd. settled in the International Healthy Food Port in the Yangpu Economic Development Zone, which I participated in planning and designing. From groundbreaking to production, it only took the company a little more than half a year, setting a world record for similar projects," Lin explained.

According to Lin, in July 2021, the tariff exemption for domestic sales of processed goods with a 30 percent value added was implemented in Yangpu, with AUSCA becoming the first pilot enterprise to enjoy the policy in Hainan. In Yangpu, enterprises also enjoy a zero-tariff policy for imported production equipment for their own use, and a reduced corporate income tax rate of 15 percent.

Lin believes that for the accelerated construction of the Hainan FTP, geographical advantages, policy dividends, the talent pool and business environment are all indispensable.

On the constantly optimized policies to support talent development in Hainan, Lin said, "The Hainan FTP is like a magnet attracting global talent and enabling foreigners like us to enjoy an ideal living, working, and studying environment. My wife and children also moved from Singapore to Hainan, and now live in Yangpu, fully reflecting our confidence and resolve in the construction of the Hainan FTP."