China releases white paper on Hainan free trade port

China’s State Council Information Office officially released a white paper on the construction of the Hainan Free Trade Port (FTP) on Sunday.

The white paper introduces central policies and achievements of the construction of Hainan FTP over the past year.

In June 2020, China released a master plan for the Hainan free port to build the southern island province into a globally influential duty-free trading center by the middle of the century.

According to the plan, an FTP system focuses on trade and investment. Liberalization and facilitation will be “basically established” in Hainan by 2025 and become “more mature” by 2035.