The Hainan free trade port will establish one negative and three positive lists, focusing on high-tech, ecological and environmental protection and industries with local characteristics, the Ministry of Finance said on Monday.
Govt to develop Hainan free port in two phases
China is planning to build a high-quality free port in Hainan province in steps and phases, the country's top economic regulator said on Monday.
"The implementation of the government's overall plan for the construction of Hainan Free Trade Port can be divided into two phases-the first phase to lay the foundation and make preparations and the second phase to comprehensively promote the development," said Lin Nianxiu,deputy head of the National Development and Reform Commission.
Hainan vows it will not allow free rein to real estate sector
Hainan will strictly control real estate industry development and will not be "a processing plant for property projects", Liu Cigui, Party chief of the island province, said on Monday.
Liu told a news conference in Beijing that Hainan will develop the estate industry within its resources and environmental capability. "Hainan rejects being a processing plant for real estate projects," Liu said. "The amount of our land is limited, and we've already learned a lesson."
"We should not build a modern industrial development mode that relies on a single industry. While pursuing economic growth, we should also pay attention to environmental protection," Liu added.
