The State Council has recently issued "Several Measures for Promoting System-based Opening-up in Qualified Pilot Free Trade Zones and Free Trade Ports" (hereinafter referred to as "Several Measures"), taking the lead in Shanghai, Guangdong, Tianjin, Fujian, and Beijing. And other qualified free trade pilot zones and Hainan Free Trade Port, pilot docking with relevant international high-standard economic and trade rules, and steadily expand institutional opening.
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the "Several Measures" will give full play to the role of pilot free trade zones and free trade ports as a comprehensive test platform for reform and opening up, deepen reforms in key areas in line with international high-standard economic and trade rules, and actively promote institutional innovation. Open up exploration paths and accumulate experience for higher levels.
The "Several Measures" focuses on six aspects including trade in goods, trade in services, temporary entry of business personnel, digital trade, business environment, and risk prevention and control, and proposes specific pilot measures and risk prevention and control measures.
The first is to promote the innovative development of trade in goods. Including the implementation of pilot projects for the import of remanufactured products in key industries, the exemption of tariffs on aircraft and ships that temporarily leave the country for repairs and re-transport into the Hainan Free Trade Port, the temporary exemption of customs duties and import link value-added tax and consumption tax for specific goods, and the expiration of the validity period of the pre-ruling Make a decision on the extension application as soon as possible, and implement measures such as supplier self-declaration on the relevant standards that imported information technology equipment products meet.
The second is to promote the free and convenient service trade. Including, in accordance with the principle of internal and external consistency, the financial management department shall make a decision on the application of financial institutions to carry out relevant financial services within 120 days, allow foreign-funded financial institutions to carry out new financial services similar to those of Chinese-funded financial institutions, and relevant enterprises and individuals may purchase certain types of financial services across the border according to law. Overseas financial services, establishment and improvement of overseas professional competence evaluation and assessment work procedures and other measures.
The third is to facilitate the temporary entry of business personnel. These measures include allowing the accompanying spouses and family members of experts transferred by foreign-invested enterprises to enjoy the same entry and temporary stay period as the expert, and relaxing the entry and temporary stay period for senior managers of relevant foreign companies and accompanying spouses and family members.
The fourth is to promote the healthy development of digital trade. Including measures to improve the protection system of consumers' rights and interests in online commercial activities, and relevant departments and their staff shall not require the transfer or acquisition of mass market software source code as a condition for import and sales.
The fifth is to intensify efforts to optimize the business environment. Including specific measures to optimize the business environment in areas such as government procurement, intellectual property rights, competition policy, and environmental protection.
