Hainan Free Trade Port showcases progress in high-level opening up at Boao Forum

Hainan Free Trade Port has achieved solid progress since launching island-wide special customs operations, which fully demonstrates China's firm commitment to advancing high-level opening up, stated officials and experts at the Boao Forum for Asia (BFA) Annual Conference 2026.

The Global Free Trade Ports Development Forum, held on March 24, marked the first such high-profile event since Hainan kicked off its island-wide special customs operations in December 2025, a significant milestone in the construction of the Hainan Free Trade Port.

The Global Free Trade Ports Development Forum is held on the sidelines of the Boao Forum for Asia Annual Conference 2026 in Boao, Hainan province, March 24, 2026. [Photo provided by Boao Forum for Asia]

Officials emphasized that this move is a crucial step in implementing the master plan for developing Hainan into a globally influential free trade port.

In the first 100 days after the launch of the customs measure, the number of newly established foreign-invested enterprises in Hainan surged by 33.5%, while foreign trade volume rose by 32.9%. In addition, visa-free arrivals from 86 countries to the island also registered a robust growth.

A string of major projects have settled in Hainan, including a gas turbine assembly base built by Siemens Energy and China's first wholly foreign-owned hospital. A new international air route connecting Sanya and Prague in the Czech Republic has also been officially launched.

Mu Hong, vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), addresses the Global Free Trade Ports Development Forum in Boao, Hainan province, March 24, 2026. [Photo provided by Boao Forum for Asia]

Mu Hong, vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said that free trade ports play an irreplaceable role in boosting opening up and safeguarding the multilateral trading system.

He called for deeper collaboration in industrial and supply chains, enhanced connectivity and the improvement of coordination mechanisms among global free trade ports and regions.

Feng Fei, secretary of the CPC Hainan Provincial Committee, speaks at the Global Free Trade Ports Development Forum in Boao, Hainan province, March 24, 2026. [Photo provided by Boao Forum for Asia]

Feng Fei, secretary of the CPC Hainan Provincial Committee, noted that Hainan will further expand institutional opening up, facilitate the cross-border flow of production factors and continuously optimize its business environment to be more market-oriented, law-based and internationalized.

Participants at the forum acknowledged that policy strengths such as zero tariffs and low tax rates have significantly boosted Hainan's appeal among global investors.

They also stressed that improving rule-based governance, ensuring legal certainty and aligning with high-standard international economic and trade rules are essential for the long-term sound development of free trade ports.

John Lee, chief executive of the Hong Kong Special Administrative Region, speaks at the Global Free Trade Ports Development Forum in Boao, Hainan province, March 24, 2026. [Photo provided by Boao Forum for Asia]

John Lee, chief executive of the Hong Kong Special Administrative Region, said Hong Kong will continue to expand its global trade network and create more new opportunities for global investors. He pointed out that Hong Kong and Hainan can complement each other's strengths and jointly contribute to advancing global free trade.

Experts and business representatives at the forum stated that free trade ports can effectively boost confidence in global trade by providing stable and transparent institutional frameworks.

Participants also highlighted the importance of strengthening cooperation between Hainan, Hong Kong and other regional economies to achieve complementary and coordinated development.

They reached a broad consensus that against the backdrop of a complex international environment, free trade ports can serve as a key platform to uphold economic globalization and promote regional cooperation, injecting stable impetus into the development of the world economy.