(EconomyInFocus)CHINA-HAINAN-FTP-FAVORABLE POLICIES (CN)

Xinhua
30 May 2025, 15:45 GMT+10

(250530) -- HAIKOU, May 30, 2025 (Xinhua) -- A staff member introduces the production of the enterprise to Sanya Customs officers at Hainan Xiangyuan Industrial Co., Ltd. in Ledong Li Autonomous County, south China's Hainan Province, on May 28, 2025. In June 2020, China released a master plan to build the whole of Hainan Island into a globally influential and high-level free trade port by the middle of the century.

Many favorable policies have since been issued to support the development of the Hainan Free Trade Port (FTP), including the implementation of zero tariffs and the easing of market and foreign investment access. In addition, China exempted tariffs on goods imported to and processed in Hainan and then sold elsewhere in China if the processing trade entities in Hainan meet a 30 percent value-added threshold. The policy was first implemented as a pilot at the Yangpu Free Trade Port Zone in July 2021 and has since been gradually expanded to the whole island, powering the industrial development of the Hainan FTP.

Five years on, with a slew of favorable policies taking effect and continuous opening up, Hainan has gained a strong momentum of development and is making great strides towards becoming a free trade port with world influence. (Xinhua/Jin Haoyuan)

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