Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
An important disclaimer is at the bottom of this article.
Source: People's Republic of China – State Council News
HAIKOU, March 27 (Xinhua) — The Hainan Free Trade Port (HFTP), the world's largest by area, marked the 100th day on Friday since the launch of the HFTP-wide independent customs operation regime, marking a major milestone in the southern Chinese island province of Hainan's journey to building a world-class HFTP.
In 2026, the first year of China's 15th Five-Year Plan (2026-2030) began. As part of the 15th Five-Year Plan, China has taken a number of new steps to expand its high-level opening to the outside world, one of which is the construction of the Hainan Free Trade Zone (FTP), meeting high standards.
The launch of independent customs operations throughout the Hainan Free Trade Zone is a significant step by China to steadily expand its high-level opening-up to the outside world and promote the development of an open global economy. This marks a new stage in the construction of the Hainan Free Trade Zone.
According to the data, since this landmark move, the total value of imports and exports to the PCT has exceeded 80 billion yuan (about 11.6 billion US dollars), up 32.9 percent from the same period last year.
Notably, 186 transactions worth nearly RMB 1.7 billion were completed under the zero-tariff policy, a 2.46-fold increase year-on-year. The total duty-free amount was RMB 271 million.
According to Li Zhiping, Deputy Director of the Hainan Provincial Commerce Bureau, following the launch of independent customs operations throughout the Hainan Free Trade Port, the range of goods eligible for zero duties has expanded, and preferential tax regulations have been introduced for the movement of goods through the "first line" and "second line" of the Hainan Free Trade Port's customs system, as well as for their circulation within the island. This helps reduce production and operating costs for businesses and attract investment in the local trade sector.
The secret to the Hainan Free Trade Zone's appeal lies in the wide range of amenities designed to meet the daily needs of foreigners. Its international-level service system is helping an increasing number of foreigners, including Russians, transform from visitors to permanent residents.
"When I first applied for a business license, I was concerned about the complexity of the process. I didn't expect local workers to help me translate and organize the materials," shared Andrey Karimov, who opened a Russian restaurant in Sanya.
The man was surprised by how quickly and easily the entire process, from registration to licensing, went. He said scheduling an annual restaurant inspection is as easy as a phone call, and if he has any policy questions, the hotline operator always provides accurate answers.
"In this city, I experienced the openness and inclusiveness of the Hainan Free Trade Port. This place has become a second home for me," he said.
Kirill Babaev, Director of the Institute of China and Modern Asia of the Russian Academy of Sciences (ICSA RAS), said that Hainan is currently attracting interest not only from tourists but also from businessmen from all over Russia, and this will contribute to the overall development of trade and economic relations between China and Russia.
Hainan Provincial People's Government Chairman Liu Xiaoming stated that during China's 14th Five-Year Plan (2021-2025), Hainan implemented the country's most favorable visa-free entry policy, introduced an innovative work permit mechanism for foreigners, and increased the number of foreign nationals working in Hainan by 90 percent.
According to him, in the next stage, Hainan will establish a more open mechanism for working with personnel, implement a more convenient entry and exit management system, and deepen the reform of the system and mechanism for developing human resources.
As a reminder, on December 18 last year, China launched an independent customs regime throughout the Hainan Free Trade Zone, which ensures freer imports of foreign goods, expanded coverage of zero tariffs, and more favorable conditions for business.
Cao Yuanzheng, an economist who helped draft Hainan's development plan, noted that among China's 22 pilot free trade zones, Hainan stands out as the only one that operates according to higher standards of openness.
He added that China is moving from an openness based on the flow of production factors to an institutional openness based on rules, regulations and standards.
"We hope that Hainan will serve as a benchmark for taking China's opening up to new heights," he said. -0-
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.