Major economic policies boost recovery in 2021
First negative list on cross-border trade for Hainan Free Trade Port
China unveiled the first negative list on cross-border trade in services for Hainan Free Trade Port on July 26, a major measure in the country's administrative model for trade in services.
The new policy, called the Negative List of Hainan Cross-Border Trade in Services, took effect on Aug 26. It specified 70 special administrative measures in 11 sectors for overseas service providers.
Domestic and foreign service providers will enjoy equal access to sectors beyond the list in the Hainan Free Trade Port, with greater openness, transparency and predictability.
This new negative list widens market access in trade in services and makes higher-level opening-up arrangements in professional services, transport services and financial services, among others.
