
China's Ministry of Commerce and other departments jointly issued the "Notice on Further Improving the Level of Trade Liberalization and Facilitation of the Hainan Free Trade Port", proposing 16 measures, covering trade in goods, trade in services, and new trade formats and new models, to help the high-quality development of the Hainan Free Trade Port.
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The Ministry of Commerce and other departments jointly issued a notice aiming to further improve the level of trade liberalization and facilitation of the Hainan Free Trade Port.
China News Service, Beijing, October 29 (Reporter Yin Qianyun) The reporter learned from the Ministry of Commerce of China on the 29th that the Ministry of Commerce and other departments recently jointly issued the "Notice on Further Improving the Level of Trade Liberalization and Facilitation of the Hainan Free Trade Port" (hereinafter referred to as the "Notice").
The "Notice" proposes 16 measures focusing on promoting the optimization and upgrading of trade in goods, promoting free and convenient service trade, and innovating new trade formats and models. In terms of trade in goods, we focus on key industries such as automobiles and new petrochemical materials, and propose support measures such as optimizing bonded supervision, bonded delivery, and R&D testing to strengthen the integrated development of trade and industry and help strengthen and extend the industrial chain.
In terms of service trade, we will further expand independent opening up in service industries such as medical care, insurance, and professional qualification recognition, improve the level of convenience for foreigners to enter and practice, and promote the innovative development of leading industries such as tourism and modern service industries.
In terms of new trade formats and models, explore and expand new formats such as bonded repair and remanufacturing, support Hainan Free Trade Port and Hong Kong in comprehensively deepening cooperation, enhance the level of coordinated development with the Guangdong-Hong Kong-Macao Greater Bay Area, and stimulate new momentum for trade development.
Ministry of Commerce spokesperson Huang Ling introduced at a regular press conference that the "Notice" mainly has three highlights: First, innovative trade management models. For example, aviation kerosene that enters Hainan's bonded storage facilities from abroad and is used for export can be inspected according to international standards; the administrative license for foreign institutions to come to China to co-host some foreign-related economic and technological exhibitions is entrusted to Hainan.
The second is to respond to the demands of business entities. Products produced by enterprises in the special supervision area of Hainan Customs through bonded remanufacturing are allowed to enter the domestic free trade pilot zone.
The third is to expand high-level independent opening up. Qualified overseas companies can use the bonded facilities of the Hainan LNG terminal without registering in China; the validity period of foreign doctors' practice license in Hainan has been extended from one year to three years, etc.

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