How to understand Hainan FTP Law? Here’s what experts say

The Hainan Free Trade Port's Legal Construction Forum was held in Haikou on November 1st. Experts, scholars and representatives of the legal community discussed online and offline in the forum.

They said that the Hainan Free Trade Port Law provides secure legal safeguards for the Hainan free trade port at the State level. It should help by forming a high-level local regulation system, and realizing the legalization of the policies and systems of the Hainan free trade port.

Tian Xuedong, Chairman of Zhuhai Lawyers Association, states that Hainan has already laid a good legislation foundation and how to make good use of the local legislative power would be the next step. And the advantages of Hainan should be taken more consideration , such as tax exemption, taxation and trade.

Participants believed that major issues in the construction of the Hainan free trade port should be grasped, to systematically coordinate and realize the mutual promotion of the reforms and the construction of the rule of law, thus forming a new pattern of the legal environment.

According to Li Shuguang, Dean of the School of Law and Economics of China University of Political Science and Law, there should be key breakthroughs in Hainan's local legislation: it should be bolder, more open and detailed; and the system should be more innovative, such as the Hainan commercial cancellation regulations and the Hainan bankruptcy regulations, which are at the forefront of our country.