Hainan FTP opens fast lane
Businesses swiftly capitalize on latest move to boost growth, competitiveness
As a colossal bulk carrier ship laden with 179,000 metric tons of petrochemical raw materials eased alongside the dock on Thursday morning, a clear announcement echoed across the port: "The Yangpu Maritime Safety Administration welcomes your vessel to the Hainan Free Trade Port."
The vessel was delivering the first shipment of zero-tariff imported goods as China launched island-wide special customs operations at the Hainan FTP, the world's largest by area.
Around the same time, at Haikou Meilan International Airport's cargo terminal, 3,300 boxes of locally produced chocolate, achieving at least 30 percent value-added processing on the island, began the journey north to Beijing and Hanzhong, Shaanxi province, as the first shipment of duty-exempt goods.
The initiative on the island will promote freer entry of overseas goods, zero-tariff expansion and a pro-business climate.
