Xinhua News Agency reported that imports under the zero-tariff regime in the Hainan Free Trade Port increased by 120%

Xinhua News Agency reported that imports under the zero-tariff regime in the Hainan Free Trade Port increased by 120% after the scheme was expanded island-wide. Additionally, 10,325 new companies registered with customs, representing a 57.8% increase compared to the previous period.

Hainan has operated as an integrated free trade zone since 2020, featuring a special customs regime that allows duty-free imports for certain goods destined for local consumption or re-export. The launch of the island-wide scheme in early 2026 extended these benefits, eliminating tariffs on most imports within the island. This move aims to position Hainan as a key logistics and trade hub in Southeast Asia, competing with Hong Kong and Singapore.