Hainan is stepping into the spotlight as its Free Trade Port initiates a full customs closure operation this year, marking a major milestone in China’s bold pursuit of global openness. 🚀 With a clear focus on high-level opening-up, this move sets the stage for a dynamic era of simplified trade policies and enhanced international connectivity.
Since the launch of the Master Plan for the Construction of Hainan Free Trade Port five years ago, the region has become a vibrant model of reform and modernization. Economic openness has leaped from 17.3% in 2018 to 35% in 2024, with the total value of goods trade reaching an impressive 277.65 billion yuan this year. Exports have even crossed the 100-billion-yuan threshold for the first time, signaling robust growth and expanded reach in global markets.
Hainan’s success is fueled by strong international partnerships. Investments now come from 158 countries and regions, and collaborations with 38 free trade zones have further boosted its strategic role. With 30% of its trade now linked to RCEP member nations and significant ties with Belt and Road Initiative partners, the island is rapidly positioning itself as a key hub for international economic exchange.
Under the guiding principle of "front-line opening, second-line control, and free flow within the island," the customs closure aims to create an environment with tariff-free policies, low tax rates, and a simplified tax structure. This framework will facilitate smooth flows in trade, investment, capital, and even data, paving the way for both quality growth and industrial competitiveness.
For young entrepreneurs, travelers, and global citizens alike, Hainan now stands as a vibrant testament to innovation and progress. As its modern industrial sectors—from tourism and modern services to high-tech industries and tropical agriculture—continue to flourish, the island offers a tantalizing glimpse into the future of international trade and investment. Stay tuned as Hainan redefines what it means to be open in a fast-changing world! 🌍
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Hainan Free Trade Port demonstrates China's high-level opening-up
cgtn.com
