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HNU teachers and students discuss Hainan FTP law

Updated: 2021-06-15

On June 10, China passed a law which makes institutional arrangements for the construction of Hainan Free Trade Port (FTP) at the national legislative level.

Hainan University (HNU) teachers and students said they believe that the law will lay a solid legal foundation for the construction of Hainan FTP, speeding up progress towards the creation of a law-based, international and convenient business environment in Hainan.

Wang Chongmin, vice president of HNU and member of Hainan FTP's legislation advisory committee, said the new law indicates the great importance that China attaches to the construction of the Hainan FTP, and supports the country's plan to build a free trade port with the highest level of openness.

"The law provides a framework and general provision for the basic legal system of Hainan FTP. Therefore, Hainan FTP should innovate the local legislation mechanisms, and constantly perfect its laws and regulation systems," Wang Chongmin said.

Wang Junyan, former dean of the HNU Law School, spoke highly of the law, and said that hopefully Hainan can formulate relevant regulations in trade, investment and finance, to push forward the construction of Hainan FTP in terms of legalization, internationalization and facilitation.

George, a student from Georgia, is a doctoral candidate majoring in food science and engineering at HNU. He set up a wine trading company in Haikou in 2019. George said the law has given him more confidence to engage in cross-border trade in Hainan, which will definitely help his wine business prosper and attract more foreigners to start businesses.

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Visitors participate in the first China International Consumer Products Expo in Haikou, Hainan province, on May 9. WANG CHENGLONG/FOR CHINA DAILY