PR Newswire
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.
Video - https://www.youtube.com/watch?v=OjUOwbyLbJY
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