Hainan's geographical advantages, along with the business environment and preferential policies for opening up, make the island-province a stable and attractive global hub for talents and businesses, said a German scholar on the island.
The province in south China will officially launch island-wide special customs operations on December 18 in a milestone for China's opening-up drive.
Dirk Klann, a German lecturer of digital technologies and computer science at the Hainan Bielefeld University of Applied Sciences, explained in an interview program with China Global Television Network (CGTN) that Hainan holds a combined set of advantages comparable to those of several countries around the world.
"Many places in the world claim to have this advantage, this position that also Hainan claims to have. So, let me try to explain a little bit more in detail. Having an ease of business environment like in Singapore, having the tax level environment like in Dubai, having something like ease of access regarding workforce, like it used to be at least, in Silicon Valley. Combining all this, putting together the second largest economy in the back, being three hours away, flight hours away from half of Asian population. This is a core geographical advantage that we have here," Klann said.
The professor also emphasized that a range of Hainan's policy offer a level of stability for businesses that is particularly precious under the shadow of the global tariff war.
"We have three zero VAT, we just talked about duty free. We have a low tax environment here, and we have zero quotas. For businesses it means stability in their supply chain. So in today's world, in the world of tariff wars, how cool is this to have a little bit more stability offered to potential businesses coming here, and this is part of the story that we can offer as Hainan," he said.
Multiple advantages make Hainan stable hub for global talents, businesses: German scholar
