Hainan to Sell Islands as Real Estate Cools

A year ago, it was Real Estate Speculators Head for Far Flung Locales"
If you try to live in the city of Qionghai for some time, you will find that the real estate market is hot so that many residents of the city have a real estate agent this part-time identity.

As soon as you step out of the Qionghai Railway Station, you will be surrounded by a real estate salesman asking to sell you a house. When you ride in a taxi, almost every driver will tell the tourists that his relatives are real estate agents and will provide you with the contact details of the relatives. To join the housing sales force there are hotel attendants, newsstand boss, single tourists will have a cold and lonely feeling in this city.
Hainan has been at the forefront of real estate restrictions and they have had an impact.

Reuters: Property agents abandon China's resort island as sales plunge on cooling measures
But new measures in April restricting non-residents from buying homes on the island, where non-locals normally comprise about 80 percent of purchases, have caused sales to plunge.

Home transactions in Hainan in terms of area fell 14 percent in May compared with April, and were down 41 percent from a year ago, according to the real estate research firm CRIC. Official home price data for May is due to be released on Friday.

The slide comes as the State Council maps out plans to transform Hainan into China’s largest free trade zone and upgrade its core industries to include not only tourism, but also modern services and high technology.
Although buying a home is difficult, buying an island became much easier.

Caijing: 海南:个人可以申请开发无人海岛 可用于娱乐等行业
Zhongxin.com Haikou, July 4 (Reporter Wang Ziqian) Hainan Provincial Department of Oceans and Fisheries announced on the 4th the "Approval Measures for the Development and Utilization of Non-resident Islands in Hainan Province", clarifying that organizations or individuals applying for the development and utilization of non-resident islands should be at the provincial level. The marine administrative department submits an application and submits an application for the development and utilization of non-resident islands, specific plans and project demonstration reports.
Hainan is not only at the forefront of real estate restrictions. It's also at the forefront of economic reform as the island becomes a giant free trade zone.

The Economic Observer has a page devoted to the Pacific Pearl: 【太平洋之珠】

One article discusses the reform effort: 【太平洋之珠】海南:面向大海,顶格开放
If someone asks, "Where is China's largest province?" The first reaction of many people may be Xinjiang. Few people think of Hainan. "Is Hainan not an island?" It is true from the geographical perspective, but the Hainan Province in the sense of administrative divisions is very different.

The Hainan Provincial Government’s official website “Hainan Overview” introduces itself as follows: Hainan Province is located at the southernmost tip of China. The North Qiongzhou Strait is demarcated from Guangdong Province, the North Bay is opposite to Vietnam, and the East and South are adjacent to the Philippines, Brunei, Indonesia and Malaysia in the South China Sea. The administrative region includes Hainan Island, Xisha Islands, Zhongsha Islands, the island reefs of the Nansha Islands and their sea areas, and is the largest province in the country. The total land area of ​​the province is 35,400 square kilometers, and the sea area is about 2 million square kilometers.

Therefore, when the Party Central Committee decided to support the construction of a free trade pilot zone in Hainan Island, support Hainan’s gradual exploration and steadily promote the construction of a free trade port with Chinese characteristics, and establish a free trade port policy and institutional system in a step-by-step and phased manner, the world’s Cognition is once again refreshed.
Hainan has a strict timetable for achieving success:
Hainan will not only build a free trade pilot zone on the island, but also build a free trade port with Chinese characteristics.

What is a free trade port? To put it simply, a free trade port is a special economic function zone that is located outside the territory of a country (region), where goods and funds are free to enter and exit, and most goods are exempt from customs duties. Hong Kong, Singapore, Rotterdam and Dubai are typical representatives of free trade ports.

This means that Hainan will usher in a top opening this time.

As China's largest special economic zone and a relatively independent geographical unit, Hainan suddenly stood at the forefront of China's comprehensive deepening of reform and opening up. The inevitable land of the Maritime Silk Road, the key areas of the Beibu Gulf Economic Circle, the South China Sea Economic Circle, the ASEAN Economic Circle, and the Pan-Pearl River Delta Economic Circle, suddenly became a new highland for comprehensive deepening of reform and opening up.

Moreover, the central government has also given a clear timetable: It is required to achieve the goal of building a well-off society in an all-round way with the whole country by 2020, making important progress in the construction of a free trade pilot zone, and significantly increasing international openness; by 2025, the free trade port system Initially established, the business environment has reached the domestic first-class level, the level and quality of public services have reached the domestic advanced level, and the basic public services have been basically equalized; by 2035, the socialist modernization construction has been at the forefront of the country, and the institutional system of free trade ports And the mode of operation is more mature, and the business environment ranks among the top in the world. By the middle of this century, it has taken the lead in realizing socialist modernization and forming a highly market-oriented, internationalized, rule-of-law, modernized institutional system, which has become a leader in comprehensive competitiveness and cultural influence. area.
Hainan has a long way to go on economic growth:
However, it is a long way to go to meet the current economic and social development level of Hainan. In 2017, Hainan's GDP was 446.3 billion yuan, with a per capita GDP of 7,179 US dollars and a resident population of 9.26 million. In the same year, Shenzhen's GDP was 2.24 trillion yuan, per capita GDP was 27,100 US dollars, and the resident population was 12.53 million.

Only per capita GDP indicator, Shenzhen is 3.77 times that of Hainan. Although the hero cannot be said on GDP, the gap is obvious. Hainan is going to be at the forefront of the country in socialist modernization in 2035. It is necessary to "take the lead" to achieve socialist modernization in the middle of this century. Obviously, it requires extraordinary development.

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