China is turning Hainan into a free trade hub, just like Hong Kong.

Further solidifying their economy and international presence.


Alfred Lee

3 Jun, 2020

China is turning Hainan into a free trade hub, just like Hong Kong. | BEAMSTART News

- From our Sponsors -

As the United States strives to recover from the pandemic, China is upping its game in becoming a global super-power and economy.

China's government has outlined plans to transform Hainan into more than just a tourist destination, but instead into a "free trade port" much like Hong Kong.

The new plans outline special policies for Hainan, which include scrapping import duties, lowering company tax rates to 15%, as well as relaxing visa requirements for tourists and business travellers.

The tropical island of 9.5 million people will also enjoy freedoms in trade, capital flows, and a much more simplified investment environment.

Hainan is also known as the "Hawaii of China".

China understands the possibility of trade tensions rising further with the United States, and sees this as an alternative solution to further anchor their economic growth.

By developing Hainan further, China is also able to have the benefits of both worlds — control over their mainland economy, while reaping the economic and cultural benefits from the outside world that Taiwan and Hong Kong enjoys.

While Hainan will never become like Hong Kong, it certainly has many ingredients to make it become a tourism, trading, and even potential financial hub in the long term.

- From our Sponsors -

Latest Jobs

Senior Marketing

Gallons & Grapes Pte Ltd

Buona Vista, Singapore

Full Time

SGD 4000 — SGD 4500 monthly

English-Korean Freelance Transcriber in Singapore

Elite Asia

Singapore

Contract / Freelance

Salary Undisclosed

Account Manager (Hybrid)

Pinkerton

New York, NY, United States

Full Time

Salary Undisclosed

Customer Service Representative

Gamer's Hideout Sdn. Bhd.

Dataran Prima, Petaling Jaya, Malaysia

Full Time

MYR 3000 — MYR 4000 monthly

GROCERY SHOPPER UP TO $11/H !THEY ORDER, YOU SHOP!

RecruitFirst

SIngapore, Singapore

Contract / Freelance

SGD 9 — SGD 11 monthly

English Technical/Legal Writer

Pacston Technology Group

Kuala Lumpur, Malaysia

Full Time

USD 20000 — USD 60000 monthly

Junior Accounts Cum Admin Assistant

LABEL-LINE CORPORATION PTE LTD

Kallang, Singapore

Full Time

SGD 1600 — SGD 1800 monthly

Head of Developers

TWGT

Manila, Philippines

Full Time

USD 2000 monthly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).