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Hainan releases white paper on FTP construction


On July 29th, Hainan released a white paper on the construction of the Hainan FTP for the period of June 2021 to May 2022.

 The white paper tackles relevant policies and systems mentioned in the "Master Plan for the Hainan Free Trade Port" from 11 aspects, ranging from trade freedom and facilitation, investment, cross-border capital flow, to personnel entry and exit. Li Yufei, Deputy Director of the Hainan Office for Deepening Reform announced, “The island-wide independent customs operation is regarded as the top priority for the construction of the Hainan FTP. As of today, Hainan has registered a total of 1.98 million market entities, an increase of about 5 times in the past 10 years, ranking first in the country for 28 consecutive months in terms of growth rate.” 

In April 2021, the National Development and Reform Commission and the Ministry of Commerce of China rolled out opinions regarding measures to support relaxing market access in Hainan. The policy has greatly stimulated market vitality and laid a solid foundation for Hainan to form a comparative advantage in the industry. 

Zhang Fuming, Division Director of Department of Commerce of Hainan Province introduced, “In the first half of this year, the province's import and export volume of goods reached 91.7 billion yuan, a year-on-year increase of 56%, and the growth rate was 46.6 percentage points faster than the national level, ranking second in the country.”

 Yangpu Opens 52 Trade Routes, Gathering 500 Shipping Enterprises 

Additionally, the white paper pointed out that Hainan has made every effort to build Yangpu into an international shipping hub and new international land-sea trade corridor in the west part of the province. A total of 500 shipping companies have settled in the port of Yangpu, which has opened 52 domestic and foreign trade routes. 

“In the past three years, the average annual growth rate of Yangpu’s container throughput has exceeded 30%, taking the lead in the country. From January to June this year, Yangpu's container throughput reached 823,000 TEUs, a year-on-year increase of 45.7%,” said Li Zhiqiang, Deputy Director of the Department of Transportation of Hainan Province.

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