20200608

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The video discusses the concept of power struggles within the Chinese Communist Party leadership and dismisses rumors of internal conflict. It then delves into the proposed Hainan Free Trade Port and its general plans and prospects for development, emphasizing its goal of becoming a risk-free, tax-free, and even income-tax-free environment that will promote free trade and investment. The video also discusses the feasibility and potential challenges of the plan's implementation, including the need for the establishment of an industrial cluster, funding and investment, and the ban on real estate speculation. Overall, the video provides a detailed exploration of the Hainan Free Trade Port and its potential impact on China's economy.

00:00:00 In this section, the speaker discusses the recent topic of "地摊经济" or "street vendor economy" in China, which has sparked discussions on possible internal conflicts within the Chinese Communist Party (CCP) leadership. The speaker points out that while he cannot confirm whether there is internal conflict between the CCP leadership, he believes that there is a story behind why this topic surfaced, and it could be due to the fact that this matter was first proposed by Premier Li Keqiang and later promoted by the State Council. However, the speaker notes that despite the promotion of this idea by Li Keqiang, it is ultimately a move to address the issue of unemployment in China, which is a problem that the CCP leadership must tackle together.
00:05:00 In this section, the speaker dismisses rumors about power struggles within the Chinese government's top officials and explains the concept of power struggles or "quan zheng." He argues that power struggles are motivated by interests, be it in fighting for positions or grabbing hold of power. The speaker also discusses the proposed Hainan Free Trade Port and the general plans and prospects for its development. The speaker notes that the Chinese government has released a general plan for the Hainan Free Trade Port's construction on June 1st and that President Xi Jinping has also given his approval.
00:10:00 In this section, it is explained that the Hainan Free Trade Port is a major strategic decision made by the central government to promote China's innovative development of socialism with Chinese characteristics in the new era of reform and opening up. The goal of the plan is to create a risk-free, tax-free, and even income-tax-free environment that will promote free trade and investment with the aim of achieving significant progress by 2023, which will lay the foundation for the port to be fully operational in 2025. The plan emphasizes the free flow of trade, investment, capital and personnel, along with the promotion of the tourism industry, modern service industry, and high-tech industries. The speaker also suggests that the Hainan Free Trade Port's focus and positioning is different from that of Hong Kong, and therefore, will not threaten Hong Kong's economy.
00:15:00 In this section, the video discusses the goals and prospects of the Hainan Free Trade Port, which aims to build a modern industrial system and strengthen four system constructions, including taxation, risk prevention, legal governance and social management. The policy will implement zero tariffs for most products and allow overseas securities, futures and funds to enter into the market. However, the restrictions on six types of behaviors, such as damaging national security and violating socialist ideology, will be emphasized. The plan also prioritizes the establishment of industries in tourism, modern services and high technology, which are expected to attract global talents and promote the development of the island's economy.
00:20:00 In this section, the speaker discusses the goals and prospects of the Hainan Free Trade Port, stating that the overall plan has a high-end target positioning, with emphasis on implementing and completing the zero-tariff policy, full investment openness and income tax exemptions. The plan has a modern and official approach, with specific solutions provided for each problem. The speaker then talks about the plan's three time points, 2025, 2035, and mid-century, and explains that although the goals and milestones are clear, the speaker notes that the implications and effects of these changes are not discussed in detail, leaving doubts regarding the plan's feasibility.
00:25:00 In this section, the speaker discusses the lack of industry in Hainan, which means there cannot be trade without manufacturing. Unlike Hong Kong, which started with manufacturing before moving to trading, Hainan lacks any base, which ideally should be established before engaging in any form of trade. He explains that the island needs to develop industrial clusters before anything else; otherwise, any trade they engage in will be transfer, and ultimately unprofitable. The speaker concludes by suggesting that only by niching in high-tech and advanced manufacturing fields like biotechnology and robotics can Hainan create a wealthy trade industry.
00:30:00 In this section, it is discussed that in order to establish an industrial cluster, there must be three major elements in place: capital, technology, and enterprises. Furthermore, infrastructure is necessary for the success of industrial development. However, without a substantial industrial cluster, infrastructure lacks meaning. Additionally, policies are no longer the most important factor in attracting investment, as competition between cities and regions for investment, talent, and capital has become increasingly fierce. It is mentioned that the Hainan Free Trade Port’s goal to compete with Hong Kong is weak, as even Shanghai’s years of efforts to compete with the city have not panned out, and the Hainan proposal’s potential impact on Hong Kong is also unforeseeable.
00:35:00 In this section, the speaker discusses the prospects of the Hainan Free Trade Port and compares it with the failed attempt at building the Shenzhen Special Economic Zone. He points out that while the Hainan Free Trade Port has potential, it is unlikely to achieve its intended goals due to a lack of funding and investment. Additionally, he argues that the ban on real estate speculation in Hainan will stunt its economic growth, as land is its only competitive advantage. Overall, the speaker concludes that the Hainan Free Trade Port is not a reliable investment opportunity.
00:40:00 In this section, the narrator thanks some volunteer translators who provided subtitles for their videos and announces that they will credit the translators in the video descriptions. They also ask their audience to refrain from chatting and instead provide questions, opinions or situations for discussion.

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