Translated with AI
On December 18, the island province of Hainan in southern China will officially launch an independent customs regime. In anticipation of this event, work on the construction of the Hainan Free Trade Port (FTP) has significantly intensified.
In 2020, the Central Committee of the Communist Party of China and the State Council of the People's Republic of China unveiled the "Overall Plan for the Construction of the Hainan Free Trade Zone." The establishment of a special customs regime became a key element of the institutional design.
The independent customs operation regime means that a liberal and convenient regulatory system based on the principle of "maximum openness on the first line, regulated access on the second line, and free circulation within the island" will be implemented throughout Hainan Island.
Chinese President Xi Jinping noted that the strategic goal of establishing the Hainan Free Trade Zone is to make it an important gateway for China's opening up to the outside world in the new era.
Guided by this strategic goal and taking advantage of the launch of the independent customs operation regime, Hainan intends to consistently expand institutional openness, deepen openness based on the free movement of goods and production factors, form more open mechanisms for attracting qualified personnel, deepen the transformation of the administrative system, and thereby promote the high-quality development of the Hainan FCP.
Situated on a key route connecting the Pacific and Indian Oceans, Hainan Island enjoys a number of unique advantages. It draws on China's vast domestic market, enjoys access to Southeast Asian countries, and is further developing thanks to the Free Trade Zone project. This creates numerous opportunities for global trade.
For example, the Yangpu International Container Terminal has already opened 59 domestic and international routes, beginning the formation of a global logistics network. Meilan International Airport in Haikou has implemented a through-cargo system, allowing shippers to complete customs clearance in just five minutes. The flow of people, goods, capital, and data from around the world is constantly converging on Hainan, rapidly becoming the driving force behind its openness.
