| 【时 效 性】 | 有效 | 【颁布日期】 | 1988-05-04 |
| 【颁布单位】 | 国务院 | 【实施日期】 | 1988-05-04 |
| 【法规层次】 | 国务院文件 | 【文 号】 | 无 |
| 【首选类别】 | 国家基本法规 | 【次选类别】 | |
| 【其它类别】 | 【其它类别】 | ||
| 【关 键 字】 | 台湾同胞旅行证明 | ||
PROVISIONS OF THE STATE COUNCILCONCERNING
This
PEOPLE'S REPUBLIC OF
which
Council of
In case of discrepancy, theoriginal version in Chinese shall prevail.
PROVISIONS OF THE STATE COUNCILCONCERNING
INVESTMENT IN DEVELOPING HAINANISLAND
These Provisions are formulatedwith a view to absorbing investment from
within and without so as toaccelerate the development and construction of
The State implementsmore flexible
Special Economic
Province with greaterdecision-making power.
The
individuals at home and fromabroad (hereinafter referred to as investors)
to invest in the
economic and socialundertakings.
The
according to law, and shall notnationalize or requisition the assets of
the investors. Under specialcircumstances, where
for action, the State mayresort
legal procedures and duecompensation
abide by China's laws and regulations.
Investors may make investmentand conduct operations on Hainan Island in
(1) making investmentin establishing
foreign
(hereinafter referred to asenterprises with foreign investment) as
as other kinds of enterprisespermitted by law. The
for any kind of enterprise shallbe specified
parties of investment throughconsultation or
(2) purchasing shares, bonds andother negotiable securities;
(3) operating enterprisesthrough purchasing, holding shares, contracting
(4) investing and operating inthe investment modes
the
The use of State-owned land onHainan Island shall be non-gratuitous. The
People's Government of HainanProvince may, according to law, grant
gratuitously the right to theuse of the State-owned land to investors.
The duration of right grantedto land-use
contract
industries and projects, with amaximum duration of 70 years; where there
is the need to continue usingthe land after the expiry of the contract,
the duration may be extendedupon approval.
Investors may, in keepingwith the
transfer non-gratuitously theright granted to land-use.
Mineral resources on HainanIsland shall be
according to law. Theexploitation of some mineral resources specifically
designated by the State shallbe subject
competent authorities of theState;
resources shall be subjectto approval
Hainan Province. Investors areallowed to explore and develop the mineral
resources by setting up equityjoint ventures, contractual joint ventures,
or foreign-capitalenterprises.
Investors may, in the form of anequity
invest in the construction ofinfrastructure
ports, wharves, airports,highways, railways, power stations, coal mines
and water conservancy projectsor may
exclusive investment. They mayalso invest in various business and service
enterprises related to theabove-mentioned facilities in accordance with
the
Foreign-capital banks, bankswith joint Chinese and foreign investment or
other financial institutions maybe set
approval of the People's Bank ofChina in light of the needs of economic
The investment
undertakings on Hainan Islandshall be subject to examination and approval
by the People's Government ofHainan Province. Where the investment scope
and total amount exceed theauthorization by
shall
procedures laid down by theState.
The importation of buildingmaterials, production and managerial equipment
as investment of
approved,
packaging materials and othermaterials and items required for production
and operation, andthe importation
equipment for enterprise's ownuse, are to be examined and approved by the
People's Government of HainanProvince itself.
The enterprise income tax shallbe levied at a rate of 15 percent on the
income derived from production,operation and other sources by enterprises
established
excepted). In addition, a localsurtax
income tax shall be levied.Among the above-said enterprises:
(1) those engaged in theconstruction
such as ports, wharves,airports, highways, railways, power stations, coal
mines
agricultural development, withan operation period of 15 years or longer,
shall enjoy a five-year incometax exemption
profit-making year, and shall begranted a 50 percent reduction in income
tax from the sixth to the tenthyear;
(2) those engaged inindustrial,
other production enterpriseswith an
longer, shall enjoy a two-yearincome
first profit-making year andshall then be granted a tax reduction by one
half from the third to the fifthyear; those acknowledged by the People's
Government of Hainan Province astechnologically
enjoy a tax reduction by onehalf from the sixth to the eighth year;
(3) after the expiration of thestipulated period for the reduction of or
exemption from enterprise incometax according to the
engaged in industry,agriculture, and other production businesses, shall
have their enterprise income taxreduced to 10 percent in the year
the value of their export products amounts to 70 percent or moreof their
(4) those involved in servicetrades, with a total investment of or over
US$ 5 million or RMB 20 millionyuan and an operation period of 10 years
or longer, shall be exempt fromenterprise income tax in the first profit-
making year and enjoy a 50percent reduction in income tax in the next two
Reduction of or exemption fromlocal income
Hainan Island shall bedetermined by the
For investors from outside Chinawho have no offices on Hainan Island, a
10 percent income taxshall
rents, franchise, royalties andother
except those exempt
Government of Hainan Provinceshall decide as to who are to enjoy income
Enterprises with foreigninvestment and enterprises with 25
their shares held by foreignbusinessmen shall enjoy the right to conduct
import and export operations,and other enterprises
right, if so approved by thePeople's Government of Hainan Province - i.e.
to import the goods necessaryfor the production and operations of their
enterprises, and export theirown products.
Customs duty, product tax andvalue-added tax shall
machinery and equipment, rawmaterials and parts, means of transport and
other materials and items aswell as office equipment that the enterprises
within
Customs duty, product tax orvalue-added tax shall be reduced by one half
on the goods imported for saleon the market in Hainan by enterprises on
The
manufactured
exported shall be exempt fromexport duties, and
added tax already collectedthereon shall be reimbursed, except for crude
and refined oil, as well as afew other products
The products manufacturedby enterprises
marketed in Hainan are exemptfrom product tax or value-added tax, whereas
mineral oil, tobacco, liquor anda few other products specially designated
by the People's Government ofHainan Province are subject to a 50 percent
product tax or value-added tax.Where the
certain imported parts andmaterials, customs duty, product tax or value-
added tax shall be exempted orlevied retroactively in accordance with the
Products manufactured by theaforesaid enterprises and to be marketed to
other parts in China, may besold by
products whose importationis restricted
subject to approval inaccordance with the
State. But producttax or
products according to relevantprovisions. Customs duties, product tax or
value-added tax on themanufactured products containing imported parts and
materials shall
Where the enterprises withforeign investment within Hainan Island are to
sell on the domestic markettheir products which conform to the standards
specified in the methodsgoverning import substitution by the State, they
may apply to sell their productsas import substitutes.
Foreign exchange earningsderived by enterprises within Hainan Island from
their product export and fromother business activities, may be retained
in foreign currency as earnedand shall be handled
regulations of the localPeople's
adjust the surplus and deficitsof their foreign
balance of foreign exchangereceipts
exchange adjustment marketslocated on Hainan Island or in other parts of
Investors from abroadmay freely
exchange deposit account atthe bank
enterprises they set up onHainan Island. The
Investors fromabroad
enterprises within the Island,for a period of not less than five
shall enjoy a reimbursement of40 percent of the income tax paid on
amount to be reinvested, and 100percent of the income tax already paid on
the amount to be reinvestedshall be reimbursed if the investors elect to
reinvest their profit earningsin the construction of
agricultural developmententerprises, export-oriented and technologically
- advanced enterprises withinthe Island.
Investors from other parts ofChina shall be free to
earnings from the enterprises onthe Island. And no retroactive income tax
shall be levied on the profitearnings remitted to other parts of
within ten years beginning fromthe first profit-making year.
When coming to Hainan Island tonegotiate
economic
foreigners from
official trade links with China,may apply for entry visas at the port of
Haikou or Sanya if their stay inHainan does not exceed 15 days; those who
need to stay in Hainan longer orwho want to go on to other parts of China
on justifiable grounds, mayapply for an extension of visa or obtaining an
additional visa endorsementaccording to relevant provisions.
Foreigners who permanently liveon Hainan Island, or
establishment of localenterprises or participate in the development
the island, and theiraccompanying family members may upon application be
granted multipleentry
People's Government of HainanProvince.
Compatriots from Hong Kong,Macao and Taiwan as well as overseas Chinese
holding valid passports ordocuments issued by the competent authorities
under the State Council or bytheir authorized agencies may come to Hainan
Island or proceed to otherplaces within China without visas. Compatriots
from Taiwan may, at the ports inHainan Island, directly apply for Travel
Certificate for Compatriots fromTaiwan.
The People's Government ofHainan Province is authorized to examine
approve the dispatch abroadof personnel
Hainan Province that are to setup economic, trade or tourism offices or
to establish enterprises abroad,except otherwise provided by the State.
Matters not covered in theseProvisions may be
Government of Hainan
special
Provisions shall be formulatedby competent departments under the
Council in conjunction with thePeople's Government of Hainan Province.
These Provisions shall enterinto force as of the date of promulgation.