CCTV News: According to the Hainan Provincial Government website on February 16, the "Several Measures to Support the High-Quality Development of General Aviation and Low-altitude Economy in Hainan Province (Draft for Public Comments)" has been formulated and opinions are being solicited publicly. Hainan Province plans to launch 18 measures to make precise efforts in promoting the introduction and cultivation of enterprises, supporting infrastructure construction and agglomeration and development.

In order to support infrastructure construction and operation, the "Several Measures" proposes that for new construction and renovation and expansion projects for general aviation facilities for transport airports, Class A general airports and public take-off and landing sites for low-altitude aircraft, those who are social investments can apply for financial support at 20% of the total investment of the project after entrusting a third party to complete the project investment assessment. The maximum amount of a single airport project shall not exceed 20 million yuan, and the maximum amount of a single take-off and landing site project shall not exceed 5 million yuan. For new construction and renovation and expansion projects of low-altitude public communications, navigation and surveillance infrastructure that comply with provincial plans, those who are social investments can apply for financial support at 50% of the total project investment after entrusting a third party to complete the project investment assessment, and the total amount of financial support shall not exceed 25 million yuan per year.

Hainan will implement fiscal and tax incentives to support general aviation and low-altitude economic enterprises to enjoy "zero tariffs" for transportation vehicles and yachts, "zero tariffs" for raw and auxiliary materials, "zero tariffs" for self-use production equipment, exemption of tariffs for processing value-added, aircraft (including related parts) temporarily out of the country and re-transportation into the Hainan Free Trade Port after temporary repair and re-transportation into the Hainan Free Trade Port, exemption of tariffs for temporary entry and repair of goods, exemption of tariffs for re-transportation of goods, corporate income tax preferential treatment, personal income tax preferential treatment and other national tax preferential policies.

At the same time, relying on provincial government investment in parent funds, leverage social capital, support high-quality fund management institutions to establish sub-funds that can invest in the general aviation and low-altitude economy fields of Hainan Free Trade Port, and support the high-quality development of general aviation and low-altitude economic industries. Enterprises are encouraged to raise funds through issuing corporate bonds, medium-term notes, short-term financing bonds, etc., to develop general aviation and low-altitude economy. Support qualified general aviation and low-altitude economic enterprises to open multi-functional free trade accounts (EF accounts) and use the accounts to facilitate international cooperation business.

The "Several Measures" reveals that Hainan also plans to establish Hainan General Aviation and Low-altitude Economy Industry Investment Company, encouraging industrial investment companies in cities, counties and parks to participate and provide services to general aviation and low-altitude economy-related enterprises. Release the supply and demand information of enterprise lists and application scenarios, aircraft, talents, aviation materials, etc. through the Hainan Provincial Enterprise Comprehensive Service Platform. Promote the establishment of low-altitude economic industry associations and give full play to the service functions of the association.