On 1 June 2020, the CPC Central Committee issued the Master Plan for the Development of Hainan Free Trade Port, a concrete master plan for developing a free trade port in the largest special economic zone in China. In order to build Hainan into a globally competitive high-level free trade port, the master plan has proposed a series of institutional arrangements for liberalization and facilitation of trade, investment, cross-border capital flow, easy entry and exit of people, transportation, and secure and orderly data flow, etc. It can be said that collective institutional innovation is the most distinctive feature of these institutional arrangements for the Hainan Free Trade Port (Hainan FTP).
As one of the world’s most innovative law firms, King & Wood Mallesons (KWM) has been committed to delivering professional, as well as cutting-edge legal services. At the time when the central government has taken the strategic move to develop the Hainan FTP and promote digital economy, all KWM practice groups are watching market changes closely, continuously improving well-established services to satisfy market demands and exploring new practice areas in the digital economy.
This KWM INSIGHTS: Insights on Compliance Issues in the Hainan Free Trade Port brings together insights of all KWM practice groups on issues like data compliance, anti-monopoly and fair market competition, environment, employment, tax, customs, securities and pharmaceuticals etc. in the Hainan FTP. Hopefully, it will provide some inspiration to our readers. KWM will, as always, continue delivering quality services to clients for their business transformation and development in the era of digital economy.