Lawmakers vote to adopt Hainan Free Trade Port Law

Chinese lawmakers at the 29th session of the Standing Committee of the 13th NPC, China’s top legislature, voted on Thursday to adopt the Hainan Free Trade Port Law. The law will go into effect from the date of publication.

The Law clarifies that the entire island of Hainan is now being developed into the Hainan Free Trade Port, and that China supports Hainan in the step-by-step, stage-by-stage establishment of the Free Trade Port institutional and policy system in order to achieve convenience in trade, investment, cross-border capital flow, personnel entry & exit, and transportation, as well as the secure and orderly flow of data. All management and practical matters of the Hainan Free Trade Port will be subject to the newly adopted Hainan Free Trade Port Law.