Chi Fulin
The Hainan Free Trade Port is a clear banner and an important gateway for China's high-level opening-up, and the Guangdong-Hong Kong-Macao Greater Bay Area is an important strategic fulcrum for China's high-level opening-up. To realize the development of Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area, and promote the superposition and amplification of the two national strategies, its important measure is to pragmatically promote the process of port economic integration, that is, to take industrial integration as the main line, to focus on the integration of service trade, to take policy convergence as the breakthrough point, and to take system docking as the guarantee.
Accelerate the process of port industry integration
It is necessary to promote the economic integration process of Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area to solve the contradiction of weak industrial foundation and few market players in Hainan's development and some policy obstacles to the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
The first is to promote the integration of harbor and marine industries. For example, in 2023, the marine economic density per unit of coastline in Hainan will only be 28.3% of Guangdong's, and if it is raised to 50% of Guangdong's level in 2023, it is estimated that Hainan's marine GDP will reach about 450 billion yuan.
In this regard, it is suggested that "Guangdong technology + Hainan resources" and "Guangdong R&D + Hainan application" should be used to cooperate in the development of marine ranching, marine new energy and marine biomedicine; support the cruise tourism cooperation between Guangdong and Hainan to jointly develop cruise tourism products for ASEAN; and support Guangdong sea-related enterprises to establish a deep-sea fishery development base and ship maintenance base in the Hainan Free Trade Port.
The second is to promote the integration of tropical agricultural product processing industry. The Master Plan for the Construction of the Hainan Free Trade Port calls for Hainan to "build a global tropical agricultural center". In 2023, there is a big gap between the proportion of the total output value of Hainan's agricultural product processing industry in the total agricultural output value (0.87:1) and Guangdong's level in 2021 (4.43:1). If the proportion of Hainan's agricultural product processing output value in Guangdong's total agricultural output value reaches the level of Guangdong in 2021, it is estimated that nearly 500 billion yuan will be added to the agricultural product processing output value.
It is suggested that Hainan and Guangdong should cooperate in establishing a base for the procurement, processing and trading of tropical agricultural products oriented to ASEAN, support Guangdong's leading agricultural enterprises to deploy their import, processing, preservation, packaging, R&D and other businesses in Hainan, and support Guangdong's agricultural R&D institutions to participate in the joint construction of a science and technology innovation center for the southern breeding industry.
The third is to promote the integration of high-tech industries focusing on the application of digital technology. In 2022, the added value of Hainan's high-tech industry will only be 7.4% of Shenzhen's. If the development of Hainan's digital economy is close to the level of Shenzhen, it is estimated that Hainan will add about 160 billion yuan.
It is recommended to support Shenzhen digital R&D and high-tech manufacturing enterprises to set up "going global" headquarters in Hainan to carry out ASEAN-oriented digital outsourcing services, and support Shenzhen enterprises to connect with DEPA in Hainan to explore the rules of cross-border data flow and facility localization.
Accelerate the integration of port service trade
From a practical point of view, the greatest potential of port industry integration lies in service trade, and the greatest complementarity is also in service trade.
First, it is necessary to markedly increase the degree of opening up of the service industry markets in Hainan and Guangdong. For example, with the support of the central government, China has formulated and implemented a streamlined and transparent negative list for port and bay integrated trade in services in line with the CPTPP, taken the lead in treating Hong Kong and Macao capital as domestic capital in Hainan, explored the cooperation model of "Hainan undertaking + Hong Kong services", and encouraged headquarters enterprises to deploy cross-border capital inflow and outflow transactions in Hong Kong.
The second is to jointly build a large market for the integration of port and service trade through institutional opening-up. For example, Hainan has formulated "harbor market certification standards" with a focus on finance, law, and accounting, so as to achieve one-time certification and free operation of the harbor in the whole region; Hainan has significantly expanded the scope of one-way recognition of Hong Kong talents in the fields of finance, law, and medical care, and supported Hong Kong talents to independently carry out relevant businesses in Hainan and Guangdong after filing for the record; and has taken the lead in formulating and implementing a "harbor single pass system" in low-risk fields such as bonds and insurance, so as to achieve the convergence of regulatory standards.
The core of promoting the integration of the port industry lies in policy convergence
The integration of port industry is based on policy convergence. If the docking of relevant policies can be realized, the process of port industry integration will be accelerated.
The first is to realize the convergence of opening policies for key industries. For example, enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area will be allowed to enter the mainland with "zero tariff" after carrying out key processes in Hainan and accumulating more than 30% of the cumulative value-added in the cooperation in the port and the bay, including innovative drugs developed in Hong Kong and manufactured in Guangdong into the scope of application of Hainan's "innovative drugs and devices", and jointly promoting their listing in China as soon as possible, establishing a judicial service docking mechanism with a focus on arbitration, and supporting enterprises to independently choose the two major legal systems and arbitration models in the commercial field.
The second is to establish an "enclave park" with "not seeking everything, not seeking location, but only seeking income". For example, we will support port enterprises to set up "enclaves" in Hainan with the theme of digital industrialization and the transformation and application of scientific and technological achievements, or entrust high-quality enterprises from Hong Kong and Guangdong to operate key parks in Hainan.
The key to promoting the integration of port and bay industries is institutional docking
The key to the integrated development of ports and bays is how to establish an effective coordination mechanism under different economic systems and tariff management systems.
First of all, the "three unifications" should be realized. First, the layout of infrastructure construction is unified. We will promote the construction and upgrading of ports in a unified manner, accelerate the integration of ports and shipping in the Qiongzhou Strait, support domestic aviation companies to encrypt port routes, and create a "one-hour economic circle". Second, the industrial layout is unified. Formulate and implement the "Action Plan for the Integration of Harbor Industry", and establish a division of labor and cooperation relationship between harbor industries with complementary advantages and clear positioning. The third is the unification of market and border management. Focusing on finance, law and accounting, we will promote the docking of market access rules for trade in services, and realize mutual recognition of port customs supervision.
Second, establish an industrial coordination system and mechanism. For example, we will establish a compensation mechanism for benefit distribution, explore the establishment of a reasonable tax sharing and GDP distribution mechanism for "enclave" parks, and establish a mechanism for selecting industrial transfers, fully consider the common needs of port industry upgrading, and cooperate in formulating a guiding catalogue for industrial transfer.
Promoting the integrated development of ports and bays with a focus on industrial integration will not only inject vitality and vitality into the construction of Hainan Free Trade Port, significantly accelerate the process of integrated development of ports and bays, but also have an important impact on promoting China-ASEAN regional economic integration. As a result, the port and bay will develop in the same direction and integration, forming a major strategic highlight of China's regional development, a strategic fulcrum of China-ASEAN comprehensive strategic cooperation, a market intersection between China and RCEP, and a new highland of institutional opening-up.
[The author is president of the China (Hainan) Institute for Reform and Development]