China’s Hainan Free Trade Port will start island-wide special customs operations on December 18, marking a major step in China’s economic opening and alignment with international trade rules. This move signals a new phase of institutional reform and is expected to influence China’s other free trade zones.
Since 2013, China has expanded its free trade zone program to 22 zones nationwide, covering coastal, inland, and border regions. These zones test reforms first and then apply successful policies across the country. They focus on advanced manufacturing, services, logistics, cross-border trade, and innovation.
Free trade zones have driven economic growth, attracted foreign investment, and introduced major reforms such as reduced restrictions on foreign businesses. With Hainan’s launch, China aims to further promote high-quality openness, trade growth, and a more rules-based economy.
Credit : CGTN
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