Xiao Wang, a 30-year-old taxi driver in Haikou, capital of Hainan province, has great expectations for a happier life on Hainan Island following the release of the master plan on the Hainan Free Trade Port, which entered its 100th day of implementation on Tuesday.
"I will work hard to try to afford for my three-month-old son to attend the newly opened Harrow Haikou school and maybe later earn a foreign university degree without going abroad," he said.
The young father has kept close watch for any information and changes brought by the master plan, including new business opportunities for himself and better schooling opportunities for his child, as the Hainan FTP strives to turn the island into a premier destination for international education projects.
Xie Xiangxiang, an associate professor of tourism at Hainan University, said the new policy is unlocking the consumption power of high-end Chinese consumers.
"Building of more duty-free shops in Hainan FTP will encourage competition, which will in turn create better shopping experiences for customers, bringing in richer varieties of brand goods, lower prices through promotions, and better services," said Xie.
He said Hainan residents have more to expect from the positive list of duty-free goods, which will be released later this year."It will make it possible for local residents to buy goods of international brands and improve the quality of daily life".
"Yet, the big pie of favorable policies in Hainan FTP has just started to unfold. The 15 percent ceilings for both personal income tax and corporate tax, and the huge opportunities for business and career development in Hainan, is certain to overflow in unprecedented profits and benefits for people in Hainan and those who have come from afar," said Xie, "the jobs thereby created will benefit locals a great deal"