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Daily News Egypt
6 days ago
- Business
- Daily News Egypt
With independent customs operation, Hainan Free Trade Port poised to pioneer China's high-standard opening up
China's Hainan Free Trade Port (FTP) is set to launch an island-wide independent customs operation on Dec. 18, 2025, underscoring the country's wider push for high-standard opening up. In the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, senior officials from China's key economic departments shared policy insights on the Hainan FTP and its role in advancing the country's evolving opening-up strategy. As China's largest special economic zone, Hainan holds unique advantages in serving as a testing ground for reform and opening up. In April 2018, China announced plans to transform the island into a pilot free trade zone, with a long-term vision of developing a free trade port with Chinese characteristics. A master plan released in 2020 aimed to make Hainan a globally influential hub for high-level openness by mid-century. 'The launch of the island-wide independent customs operation will give Hainan greater latitude to pilot higher-standard opening-up measures,' said Cai Ping, an official with the National Development and Reform Commission (NDRC). These initiatives will not only drive the island's high-quality development, but also provide a testing ground for broader national reform and opening up, sending a clear message to the world that China's commitment to high-level openness is unwavering, and that its doors will continue to open wider, Cai said. ZERO-TARIFF INCENTIVES 'The move is aimed at expanding opening up and accelerating development,' said Cai, emphasizing that Hainan's opening up is not merely about lifting restrictions, but about systematically building an institutional framework to ensure the free and efficient flow of people, goods and capital. A central pillar of the policy framework is the enhanced zero-tariff policy. 'Businesses will enjoy broader zero-tariff incentives,' said Wu Jingfang, an official with the Ministry of Finance. The proportion of tariff lines with zero-tariff products in the Hainan FTP will increase from 21 percent to 74 percent, while the number of tariff-free items in Hainan will increase from about 1,900 to around 6,600. Imported products that undergo at least 30 percent value-added processing in Hainan can enter the mainland tariff-free. In addition, certain goods currently banned or restricted nationwide will enjoy open policies in Hainan. These measures will further reduce business costs, help attract upstream and downstream enterprises to Hainan, and promote the clustered development of industrial chains, according to Wu. With a zero-tariff system fundamentally in place after the independent customs operation, high-quality global resources can flow into Hainan with greater freedom and efficiency, Wu said. Trade liberalization and facilitation are defining features of a free trade port. Jiang Zijun from the Ministry of Commerce stressed that a key focus of the FTP's trade policies is the adoption of more favorable zero-tariff measures, alongside more relaxed trade management rules. LONG-TERM ENDEAVOR FOR OPENING UP Experts believe that launching an unprecedented, island-wide independent customs operation is a complex undertaking with no ready-made blueprint. It is a 'complex and systemic project' that requires careful alignment in policy transition, risk management, and regulatory coordination, said Cai from the NDRC. Looking ahead, the Hainan FTP will prioritize promoting the free and efficient flow of key production factors, including trade, investment, cross-border capital, personnel and logistics, alongside the secure and orderly movement of data, according to Cai. In response to the evolving needs of the Hainan FTP and China's wider push for opening up, the Ministry of Finance will continue to advance tax system reforms, Wu said. Key priorities will include advancing preferential corporate and personal income tax policies to attract top talent and leading enterprises, as well as expanding the list of zero-tariff products. With its optimized business environment, Hainan has emerged as a premier foreign investment destination, ranking among China's top performers. From 2020 to 2024, Hainan attracted more foreign investment than it did in the entire 32 years since becoming a province, while its goods trade grew at an average annual rate of over 30 percent. Amid rising protectionism and mounting challenges to the global trade order, the planned launch of the island-wide independent customs operation in Hainan — along with phased steps to build a policy and institutional framework for a free trade port with the highest level of openness — marks a strong signal of China's commitment to deeper opening up and advancing economic globalization, according to Guo Da, executive director of the China Institute for Reform and Development. The Ministry of Commerce will make more efforts to support Hainan in aligning with high-standard international economic and trade rules, enhancing institutional openness, and fostering new growth drivers through targeted measures, Jiang said. 'With the independent customs operations, Hainan FTP is poised to become a key gateway for China's new era of opening up and innovation,' Cai added.
Malay Mail
03-07-2025
- Malay Mail
Int'l media charmed by "China tour" amid cool summer in Hainan
The international media team immersed itself in the colorful experience that the "cool island" of Hainan offered in summer. (Photo credit: Jing Chen) The international media team immersed itself in the colorful experience that the "cool island" of Hainan offered in summer. (Photo credit: Dan Sandoval) HAIKOU, CHINA - Media OutReach Newswire - 3 July 2025 - This summer, journalists and photographers from the United States, Japan, South Korea, Spain, the United Arab Emirates, and other countries gathered at China's Hainan Free Trade Port, experiencing firsthand the vibrant pulse of its industrial most of the media delegation, this was their first visit to Hainan. At the Boao Lecheng International Medical Tourism Pilot Zone, the team explored various medical institutions, gaining insights into the local healthcare landscape, specialized medical policies, and unique wellness programs blending traditional Chinese medicine with Western techniques. As China's only special medical zone, Lecheng collaborates with more than 180 healthcare, pharmaceutical, and medical device institutions across 20 countries, providing a series of world-class medical and healthcare services. In the first five months of this year, it welcomed more than 180,000 tourists from China, Canada, and pristine tropical rainforests and vibrant Li and Miao cultural traditions stand as its most iconic ecological and cultural hallmarks. At Haikou's Qilou Old Street, Baoting's Binglanggu Li and Miao Cultural Heritage Park, and Baoting's Shenyu Island, the media delegation was captivated by dynamic displays and exhibits of UNESCO-recognized intangible cultural heritage—such as the 3,000-year-old Li traditional techniques of spinning, dyeing, weaving, and embroidering—alongside national and provincial treasures like Hainan agarwood, coconut carving, Li pottery, boat-shaped houses, and bamboo pole remarked that witnessing and engaging with these time-honored crafts in person was far more striking than viewing them through photos or videos. Many showed a strong interest in Hainan agarwood, marveling at its historical significance and medicinal properties. After experiencing a Li medical massage, one reporter said that his back pain was finally relieved and that he "should have come to Hainan earlier."Beyond its beaches, Hainan offers a wealth of unique summer experiences that reshaped international media's perceptions: the Taoist healing, the Li long-table banquet, and refreshing forest bath on the Shenyu Island; the tropical coastal skydiving at Skydive Tarhe; the underwater suites and theme park of the Atlantis Sanya; the shopping spree in the International Duty-free Shopping Complex; the island scenery and fishermen culture in the West Island. Each destination offers distinct charms, revealing Hainan's diverse Hao, deputy director of the Sanya Tourism Board, revealed that in addition to strengthening duty-free shopping, Sanya has also prioritized low-altitude tourism and yachting in recent years. Last year alone, yachts embarked on over 120,000 sea trips, more than 10,000 visitors experienced low-altitude skydiving, and international cruise traffic, including home-port and visiting-port throughput, reached 59,200, placing Sanya among China's top to the Hainan Department of Tourism, Culture, Radio, Television, and Sports, as China's only tropical island province and the largest Free Trade Port, Hainan enjoys the best visa-free policy in the country. In 2024, the number of inbound tourists exceeded 1 million, a record high in the past 5 years. The island has designed 10 categories of tourism products (e.g., marine tourism, high-end shopping, and healthcare) and allows ordinary passport holders from 85 countries to land without a #HainanDepartmentofTourism,Culture,Radio,TV,andSports The issuer is solely responsible for the content of this announcement.
Associated Press
11-03-2025
- Business
- Associated Press
CGTN: Hainan's Message to the World: CGTN's Exclusive Interview with Governor Liu Xiaoming
BEIJING, March 11, 2025 /CNW/ -- A Historic Milestone for Hainan The Hainan Free Trade Port (Hainan FTP) is approaching a historic milestone with the implementation of independent customs operations, a key objective outlined in the Master Plan for Building the Hainan Free Trade Port. This achievement marks a fundamental and symbolic step in Hainan's ongoing development, as the initiative has been written into the provincial government work report for seven consecutive years. Chinese President Xi Jinping has emphasized the importance of this initiative, stressing the need for a smooth, orderly, and risk-free transition. In an exclusive interview with CGTN's Liu Xin, Mr. Liu Xiaoming, Governor of the Hainan Province, confirmed that preparations are well underway to ensure a smooth and successful transition before the end of the year. Contrary to misconceptions about isolation, the customs framework follows a 'front line open, second line controlled, and free movement within' model. This structure facilitates international trade while maintaining necessary regulatory oversight between Hainan and the mainland. 'Progress has been smooth, with five major systems – policy, infrastructure, risk control, industry, and organizational support – gradually taking shape,' said Mr. Liu. 'We are ready.' A Business Environment Open to the World Beyond customs operations, Hainan is committed to enhancing its business environment, recognizing it as a 'golden ticket' to success. Efforts have been made to develop a market-oriented, law-based, and globalized business environment. Hainan has taken a national lead in streamlining government services, introducing a one-stop enterprise service platform with smart policy matching, credit repair, and regulatory support. Foreign enterprises registered in Hainan enjoy equal access to these services. Addressing concerns about foreign investors' experiences in Hainan, Liu Xiaoming emphasized the importance of improving internet access and payment convenience. Policies have been implemented to facilitate smoother transactions and daily life for foreign businesses and residents. Strategic Industries Driving Growth The province has focused on four key industries: tourism, modern services, high-tech industries, and tropical agriculture. The combined share of these sectors in Hainan's economy has increased from 52.4% in 2018 to 67% in 2023. Additionally, Hainan has embraced five strategic directions: agriculture, maritime, aerospace, green development, and the digital economy. Maritime development, in particular, stands out as a priority. 'Harnessing the power of the ocean' is a key initiative for Hainan, which oversees about 2 million square kilometers of ocean, mostly deep sea. With nearly 1,000 enterprises and research institutions already engaged in deep-sea technology and marine industries, Hainan's maritime economy has maintained double-digit growth, contributing to over one-third of the province's GDP. Plans are underway to further expand deep-sea energy, high-end equipment manufacturing, offshore aquaculture, marine biomedicine, and maritime tourism. 'Our goal is to create a 'new Hainan on the sea' within the next decade,' Liu Xiaoming stated. Leading the Way in Green Development In addition to economic development, environmental sustainability remains a top priority. Hainan is recognized as having the best ecological environment in China. A prime example of Hainan's green initiatives is the Bo'ao near-zero carbon demonstration zone. Through energy-efficient building renovations, renewable energy replacements, and agro-photovoltaic systems, carbon emissions on Dongyu Island, a permanent site for the Bo'ao Forum for Asia, have been reduced by 96.2%. The German Energy Agency has certified this as China's first regional near-zero carbon demonstration zone. With independent customs operations on the horizon, ever-improving business environment, strategic industrial development, and firm ecological commitments, Hainan is poised to become a global leader in trade, innovation, and sustainability. The Free Trade Port's future promises dynamic growth and increased international engagement, ensuring that its development aligns with both national goals and global economic trends.
