Standards from the global first -class free trade port experience

● Wang Li

Since the 19th National Congress of the Communist Party of China, General Secretary Xi Jinping has attached great importance to the construction of Hainan Free Trade Port. As a model for the development of global free trade ports in Hong Kong, Singapore, and the UAE, China has accumulated rich experience in trade investment liberalization, foreign exchange management, tax system and talent flow. "The stones of other mountains can attack jade", and the experience in the development of global first -class free trade port construction and development experience is of realistic guiding significance for promoting the construction of Hainan Free Trade Port.

One of the reference: The efficient management system is the organizational guarantee of the world's first -class free trade port. Hong Kong, China implements a positive non -intervention policy, limits the content of government management to as small as possible, and provides a guarantee for the implementation of efficient management and mechanisms for free trade ports. Singapore has a comprehensive regulatory infrastructure, and the comprehensive business environment is very superior. The first is that the enterprise registration is easy. The second is to relax the requirements for registered capital. The third is not to interfere with corporate business activities. Effective cooperation between Dubai's private sector and government departments. First, the online office system is the world's premier trade facilitation case. The second is that it promises to invest and manage operating costs in the world in its iconic Jobeia Free Zone. The third is to allow the establishment of a single shareholder company, offshore company and listed company, and a single shareholder can register a personal limited liability company in the free zone.

Reference 2: Trade investment liberalization is the institutional foundation of the world's first -class free trade port. In terms of trade liberalization, the global first -class free trade ports such as Hong Kong, Singapore, and Dubai, China, have implemented free trade policies, and trade liberalization is very high. The first is freedom of trade operations. The free trade port enterprises in the three places only need to apply for registration to the management authorities for registration or export. The second is freedom of trade settlement. There are no foreign exchange control regulations for free trade ports, no restrictions on corporate profits, no taxes, no taxes, and can be freely selected to settle currency. In terms of investment liberalization, Hong Kong, Singapore, and Dubai free trade ports have a perfect and open investment system. The government's operating activities of enterprises are neither intervention nor any subsidy policies. As long as they follow relevant laws and regulations, they can invest in any industry.

Reference 3: Financial is highly open to the source of the world's first -class free trade port. The first is to let go of foreign exchange control. Hong Kong, China can open a foreign exchange account freely. Singapore has completely canceled foreign exchange control. Dubai fully liberalized foreign exchange control, and corporate capital can be freely remitted. The second is the freedom of funds in and out. Hong Kong's funds and information are high and unlimited, and the capital market is fully open. Singapore offshore financial market is an internal and external integration market. Dubai implements zero currency restrictions in the free trade zone, and fully guarantees that investors' funds enter and exit freely. Third, the financing business is developed. Hong Kong's Hong Kong financing business is prominently reflected in the field of commercial financing services and trade financing services. As long as the conditions of Singapore companies can issue stocks or bonds on the Singapore Stock Exchange as long as they meet the conditions. Dubai financial institutions have no limit on borrowing, especially for SMEs with personalized financing services.

Reference 4: Preferential taxes are the biggest gravity of the world's first -class free trade port. The characteristics of Hong Kong's Hong Kong tax are simple and low. There are only three direct taxes, namely profit tax, salary tax and property tax, and a tax -free system. Singapore only levies three types of taxes: personal income tax, tariffs and corporate income tax. Second, the tariff policy is loose, and Singapore is exempt from tariffs on all imported goods. Third, a unified corporate income tax policy for domestic and foreign capital. Dubai is exempted from personal income tax while implementing a zero -tariff policy. Foreign -funded enterprises are exempt from income tax for 50 years. After the expiration, it can extend the 5 -year tax exemption period. Corporate personnel exempt personal income tax.

Five of the reference: Talent flow policy is the core competitiveness of the world's first -class free trade port. As a free trade port in Hong Kong, the natural flow of population and labor flow are completely open and free. One is the freedom of entry and exit policies, the second is the freedom of talent flow, and the third is the freedom of enterprise labor. Singapore's work visa is complete. Whether it is the "gold collar" class engaged in high -end technology research and development, engineering management and marketing, or blue -collar workers engaged in low -end production links, they can obtain different visas according to their own education and skills level. Dubai has no restrictions on hiring foreign expertise and employees, and can provide all kinds of talent services for various talents working in free trade ports. (Excerpted from "Banker")

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