
Hainan Free Trade Port Signals China Trade Ambitions
China has formally separated its southern island province of Hainan from the mainland customs system, creating a sweeping duty free zone aimed at attracting foreign investment and strengthening Beijing’s bid to join a major trans Pacific trade pact.
The move, announced on Thursday, turns the island into the Hainan Free Trade Port, a project Chinese officials describe as a test case for deeper economic opening and a potential Hong Kong style commercial hub. Hainan’s economy is roughly comparable in size to that of a mid ranked country, and its land area is similar to Belgium.
Under the new system, goods …















