On September 26, the Hainan Free Trade Port Fiscal and Tax Policy Summit, hosted by the Hainan Provincial Department of Finance and China Merchants Bank, was held in south China's economic hub, Shenzhen. The summit aimed to systematically interpret the Hainan Free Trade Port fiscal and tax policy system for enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area, promote deeper cooperation between Hainan and Guangdong, and jointly explore new development opportunities.

Comprised of a targeted presentation, successful case sharing, and a face-to-face Q&A session, the summit attracted over 160 representatives from nearly 140 enterprises in wholesale and retail, industrial manufacturing, financial services, and pharmaceuticals and health.

At the summit, Cai Qiang, Director of the Hainan Provincial Department of Finance, spent over an hour introducing the development and distinguishing features of the Hainan FTP's fiscal and tax policy system.

Cai pointed out that the initial phase of the Hainan FTP's unique tax policy system is now in place. Highlighting how "zero tariffs" facilitate smooth trade and how "low tax rates" bolster growth, he outlined the opportunities and reliable institutional guarantees the Hainan Free Trade Port offers for corporate strategic upgrades and long-term planning.

Addressing enterprises’ key concerns, Cai provided a targeted and comprehensive interpretation of key tax policies such as "zero tariffs" and the "dual 15% cap" on corporate and individual income tax, as well as fiscal support policies for industries, talents, and funds. The breaking down of key policy points, analysis of applicable conditions, and sharing of application scenarios and typical cases enabled enterprises to accurately grasp the policy benefits and application pathways.

A representative from China Merchants Bank shared examples of cross-border financial cases in the Hainan FTP. Representatives from the Hainan Provincial Department of Finance, the Hainan Provincial Financial Affairs Office, Haikou Customs, and the Hainan Provincial Tax Service had in-depth exchanges with enterprise representatives regarding policy questions of interest.

Enterprise representatives expressed that with the summit providing a systematic and in-depth understanding of the Hainan FTP's fiscal and tax policies, they felt the appeal and strength of these policies and gained clearer insight into future development opportunities and investment pathways. Some even announced their intention to accelerate their deployment in Hainan as they seek to share in the policy benefits and jointly promote the development of the Hainan Free Trade Port.