Enchanting scenery in Hainan
Enchanting scenery in Hainan
Enchanting scenery in Hainan
Enchanting scenery in Hainan
Invest in Hainan to occupy the bridgehead of China's future development
For thousands of years, Hainan Island was regarded as a remote and relegated place for officials, because it is far away from the Central mainland in which the yellow land civilization of ancient china is located.Since the Qin dynasty, Hain
For thousands of years, Hainan Island was regarded as a remote and relegated place for officials, because it is far away from the Central mainland in which the yellow land civilization of ancient china is located. Since the Qin dynasty, Hainan had become a place for the Demoted officials for a very long time. Among these demoted officials, there were some celebrities. The famous ancient Chinese poet Su Shi was demoted to Hainan in 1097; the Famous upright official Hai Rui of Ming Dynasty passed the provincial civil service examination in 1549, and the Revolutionary Song Yaoru, the father of Soong Ching-ling(The mother of modern China) left his hometown Wenchang to the United States. Hainan has witnessed the loneliness of countless people.
Since the 19th century, the blue ocean civilization characterized by the global economic chain has continuously impacted the ancient land of China, forcing our traditional yellow land civilization to change. Finally, Hainan separated from Guangdong province in 1988, and became an independent province and special economic zone. Since then, Hainan took advantage of its natural resources and has become the premier holiday destination in China.
I have been engaged in tourism for a long time. Therefore, I have set foot in most provinces of China and many cities of European and American over the years, and I traveled through the streets and alleys of these places, by walking, plane, train, self-driving, etc. To my point of view, Hainan could be regarded as one of the most ideal holiday destinations in the world. It owns China’s bluest waters, cleanest air and the most brilliant sunshine, rich Southeast Asian ethnic customs. Hainan’s landscape is no less than that of the Maldives in Southeast Asia. Many beautiful beaches of Hainan are even better than the beaches of Italy, Spain and the beaches of Santa Monica Angeles. In the past few years, it is not exaggerated that the China government has the definition of “Hainan International Tourism Island”.
Hainan also possesses China’s unique tropical tourism resource. It is the only province located in the China South Sea and belonging to a tropical climate zone.
As the Chinese old saying goes, the phoenix either does not sing, or sings the best. Hainan is just like the phoenix. As the most southern province near the ocean, Hainai’s potential cannot be fully released if it is only as a tourist destination. After years of development, Hainan finally ushered in the policy of construction of the world’s largest free trade Port in June 2020. The establishment of Hainan Free Trade Zone has risen to the status of national strategy. China aims to establish a free trade zone in Hainan province by 2020, and a free trade port there by 2025 as part of the most proactive opening-up strategy of the past 40 years. The island is expected to become one of the most important gateways to the Pacific and Indian oceans, according to the government.
With Various favorable policies than that of Hong Kong and Singapore, Hainan has become the latest bridgehead for China's reform and opening up. It also lays a solid foundation for the further management of 3.5 million square kilometers sea area in the South China. From the point of economy, this policy could comprehensively deepening reform and opening-up of China, adding another high-power engine for the huge machine of China economy. Meanwhile, Hainan is a new land for the development of many domestic and foreign companies and individuals.
Let’s imagine the bright future of a world-class free trade zone, Hainan, according to the latest free trade zone policy issued by the China government:
1. The most competitive and innovative income tax policy in the world.
According to the New policy, in terms of IIT (individual income tax), IIT exemption produces maximum 15% IIT rate for income of personnel with high-end and urgently-needed skills, working in Hainan FTP (Free Trade Port)
Before 2035.IIT levied at 3%, 10% and 15% rates for all individuals (not just special skills) who live in Hainan FTP (Free Trade Port) for more than183 days in year.
In terms of CIT (corporate income tax), there is a reduce of 15% CIT (China standard rate is 25%) rate for the enterprises. And the enterprises must satisfy three conditions: (i) registered in Hainan FTP; (ii) engaged in substantive business activities; (iii) in encouraged industries.
“Encouraged industries” refers to sectors listed in the Guiding Catalogue for Industrial Structure Adjustment (2019 Edition), the Catalogue of Encouraged Industries for Foreign Investment (2019 Edition) and a new Hainan-specific list. Enterprise revenue from “encouraged industry” business must be at least 60% of the total.15% tax rate applies to income of head offices and branches set up in Hainan FTP.
Furthermore, there is a total CIT exemption for “new” foreign-sourced income received by Hainan FTP enterprises in the tourism, modern services and high-tech industries. New foreign-sourced income refers to: Operating profits earned by newly established overseas branches of the Hainan companies; or Dividends repatriated from an overseas subsidiary in which the Hainan companies have a shareholding of at least 20%. The dividends must arise from new direct investment made in the overseas subsidiary. The statutory CIT rate of the investee jurisdiction must not be lower than 5%.
These real individual income tax and corporate income tax policies are very tempting for companies, especially those with large employees. Moving the head offices or setting branches to Hainan are regarded as the most correct idea. In fact, in June 2020, Hainan FTP added more than 20,000 registered companies, and some of them are well-known large companies who are moving their headquarters to the island.
2. The best tax-free shopping paradise in China's history.
According to the new policy, Starting July 1, Hainan has increased its annual tax-free shopping quota from 30,000 yuan (about 4,261 U.S. dollars) to 100,000 yuan per person each year while the annual tax-free shopping quota is only 30,000 yuan. The categories of duty-free goods have also been expanded from 38 to 45.
Although the duty-free shopping business is currently exclusively operated by CDFG (China Duty Free), it will be further liberalized along the deepening of the reform. In the future, you can find duty-free shops on any streets like Europe and Hong Kong. When you cannot go to Europe, America to buy favorite international brands or Southeast Asia to experience the sun and beaches, Hainan will be the best place when you can’t go abroad.
3. Zero tariffs on import trade for corporates and residents on the island.
The New policy stipulates that Hainan will implement zero tariffs on trading of goods, including a number of self-use and operating equipment and facilities imported by enterprises and consumer goods purchased by residents, and so on. Meanwhile, it also relaxed restrictions on both market access and business operations for trading services.
For many enterprises which need to use foreign equipment and facilities, the tax exemption policy greatly reduces operating investment.
Hainan residents, including people who have residence permit (people who buy a house or work in Hainan can apply for a residence permit) will have more opportunities to use tax-free international brands. Without going abroad, you can see the same blue sky, walk on the soft beach, and enjoy the same cheap international brands. You don’t need to spend huge amounts of money to immigrate.
Preferential and encouraged policies with more local characteristics will push forward the vigorous development and promotion of various industries.
On June 3, 11 key industrial parks unveiled in Hainan free-trade port, covering the three leading industries of “tourism, modern service industry and high-tech industry”. It focuses on ten key areas of seed industry, medical care, education, sports, telecommunications, internet, culture, maintenance, finance, shipping, etc. It intends to make full use of the advantages of system innovation, so as to give a full play to its radiating and leading role, and to promote the construction of the Hainan FTP with high quality and high standards.
It is conceivable that in the near future, more international and Chinese elites and talents will work together on this beautiful island to improve each other. There is no doubt that Hainan will be an entrepreneurial paradise for many outstanding young people and an excellent place for enterprises to take a step forward. When one encounters the bottleneck in one’s local development, Hainan is a good choice and a breakthrough. More and more people will go to Hainan to Investing, setting up companies and factories.
Our company has qualifications of providing various services as follow:
1. Import and export (we could assist foreign businesses in transporting and selling their products in China and connect domestic companies to the international shipping services most suited for their business.）
2. Inbound tourism and outbound tourism
3. Translation service
4. Real estate appraising and consulting, and real estate brokerage service.
5. Conference and exhibition service
6. Medical equipment sale (for the first and second type)
7. Technology Import and Export
8. Pre-packaged food sales
9. International cultural and artistic exchange organization
10. Car rental service
11. Hotel management; Enterprise Management; Catering management
12. Information consulting service
13. Advertising design; Corporate image design; Marketing design
Since the 19th century, the blue ocean civilization characterized by the global economic chain has continuously impacted the ancient land of China, forcing our traditional yellow land civilization to change. Finally, Hainan separated from Guangdong province in 1988, and became an independent province and special economic zone. Since then, Hainan took advantage of its natural resources and has become the premier holiday destination in China.
I have been engaged in tourism for a long time. Therefore, I have set foot in most provinces of China and many cities of European and American over the years, and I traveled through the streets and alleys of these places, by walking, plane, train, self-driving, etc. To my point of view, Hainan could be regarded as one of the most ideal holiday destinations in the world. It owns China’s bluest waters, cleanest air and the most brilliant sunshine, rich Southeast Asian ethnic customs. Hainan’s landscape is no less than that of the Maldives in Southeast Asia. Many beautiful beaches of Hainan are even better than the beaches of Italy, Spain and the beaches of Santa Monica Angeles. In the past few years, it is not exaggerated that the China government has the definition of “Hainan International Tourism Island”.
Hainan also possesses China’s unique tropical tourism resource. It is the only province located in the China South Sea and belonging to a tropical climate zone.
As the Chinese old saying goes, the phoenix either does not sing, or sings the best. Hainan is just like the phoenix. As the most southern province near the ocean, Hainai’s potential cannot be fully released if it is only as a tourist destination. After years of development, Hainan finally ushered in the policy of construction of the world’s largest free trade Port in June 2020. The establishment of Hainan Free Trade Zone has risen to the status of national strategy. China aims to establish a free trade zone in Hainan province by 2020, and a free trade port there by 2025 as part of the most proactive opening-up strategy of the past 40 years. The island is expected to become one of the most important gateways to the Pacific and Indian oceans, according to the government.
With Various favorable policies than that of Hong Kong and Singapore, Hainan has become the latest bridgehead for China's reform and opening up. It also lays a solid foundation for the further management of 3.5 million square kilometers sea area in the South China. From the point of economy, this policy could comprehensively deepening reform and opening-up of China, adding another high-power engine for the huge machine of China economy. Meanwhile, Hainan is a new land for the development of many domestic and foreign companies and individuals.
Let’s imagine the bright future of a world-class free trade zone, Hainan, according to the latest free trade zone policy issued by the China government:
1. The most competitive and innovative income tax policy in the world.
According to the New policy, in terms of IIT (individual income tax), IIT exemption produces maximum 15% IIT rate for income of personnel with high-end and urgently-needed skills, working in Hainan FTP (Free Trade Port)
Before 2035.IIT levied at 3%, 10% and 15% rates for all individuals (not just special skills) who live in Hainan FTP (Free Trade Port) for more than183 days in year.
In terms of CIT (corporate income tax), there is a reduce of 15% CIT (China standard rate is 25%) rate for the enterprises. And the enterprises must satisfy three conditions: (i) registered in Hainan FTP; (ii) engaged in substantive business activities; (iii) in encouraged industries.
“Encouraged industries” refers to sectors listed in the Guiding Catalogue for Industrial Structure Adjustment (2019 Edition), the Catalogue of Encouraged Industries for Foreign Investment (2019 Edition) and a new Hainan-specific list. Enterprise revenue from “encouraged industry” business must be at least 60% of the total.15% tax rate applies to income of head offices and branches set up in Hainan FTP.
Furthermore, there is a total CIT exemption for “new” foreign-sourced income received by Hainan FTP enterprises in the tourism, modern services and high-tech industries. New foreign-sourced income refers to: Operating profits earned by newly established overseas branches of the Hainan companies; or Dividends repatriated from an overseas subsidiary in which the Hainan companies have a shareholding of at least 20%. The dividends must arise from new direct investment made in the overseas subsidiary. The statutory CIT rate of the investee jurisdiction must not be lower than 5%.
These real individual income tax and corporate income tax policies are very tempting for companies, especially those with large employees. Moving the head offices or setting branches to Hainan are regarded as the most correct idea. In fact, in June 2020, Hainan FTP added more than 20,000 registered companies, and some of them are well-known large companies who are moving their headquarters to the island.
2. The best tax-free shopping paradise in China's history.
According to the new policy, Starting July 1, Hainan has increased its annual tax-free shopping quota from 30,000 yuan (about 4,261 U.S. dollars) to 100,000 yuan per person each year while the annual tax-free shopping quota is only 30,000 yuan. The categories of duty-free goods have also been expanded from 38 to 45.
Although the duty-free shopping business is currently exclusively operated by CDFG (China Duty Free), it will be further liberalized along the deepening of the reform. In the future, you can find duty-free shops on any streets like Europe and Hong Kong. When you cannot go to Europe, America to buy favorite international brands or Southeast Asia to experience the sun and beaches, Hainan will be the best place when you can’t go abroad.
3. Zero tariffs on import trade for corporates and residents on the island.
The New policy stipulates that Hainan will implement zero tariffs on trading of goods, including a number of self-use and operating equipment and facilities imported by enterprises and consumer goods purchased by residents, and so on. Meanwhile, it also relaxed restrictions on both market access and business operations for trading services.
For many enterprises which need to use foreign equipment and facilities, the tax exemption policy greatly reduces operating investment.
Hainan residents, including people who have residence permit (people who buy a house or work in Hainan can apply for a residence permit) will have more opportunities to use tax-free international brands. Without going abroad, you can see the same blue sky, walk on the soft beach, and enjoy the same cheap international brands. You don’t need to spend huge amounts of money to immigrate.
Preferential and encouraged policies with more local characteristics will push forward the vigorous development and promotion of various industries.
On June 3, 11 key industrial parks unveiled in Hainan free-trade port, covering the three leading industries of “tourism, modern service industry and high-tech industry”. It focuses on ten key areas of seed industry, medical care, education, sports, telecommunications, internet, culture, maintenance, finance, shipping, etc. It intends to make full use of the advantages of system innovation, so as to give a full play to its radiating and leading role, and to promote the construction of the Hainan FTP with high quality and high standards.
It is conceivable that in the near future, more international and Chinese elites and talents will work together on this beautiful island to improve each other. There is no doubt that Hainan will be an entrepreneurial paradise for many outstanding young people and an excellent place for enterprises to take a step forward. When one encounters the bottleneck in one’s local development, Hainan is a good choice and a breakthrough. More and more people will go to Hainan to Investing, setting up companies and factories.
Our company has qualifications of providing various services as follow:
1. Import and export (we could assist foreign businesses in transporting and selling their products in China and connect domestic companies to the international shipping services most suited for their business.）
2. Inbound tourism and outbound tourism
3. Translation service
4. Real estate appraising and consulting, and real estate brokerage service.
5. Conference and exhibition service
6. Medical equipment sale (for the first and second type)
7. Technology Import and Export
8. Pre-packaged food sales
9. International cultural and artistic exchange organization
10. Car rental service
11. Hotel management; Enterprise Management; Catering management
12. Information consulting service
13. Advertising design; Corporate image design; Marketing design
