At the center of the Asia Pacific economic circle, Hainan Island, part of the southernmost province of China, is not only the largest special economic zone in the country but also a key link on the 21st Century Maritime Silk Road, with ready access to international shipping routes of the South China Sea. It covers a land area of 35,400 square kilometers and administers neighboring Xisha, Nansha and Zhongsha islands, as well as their waters.
Hainan will focus on institutional innovation and fine-tune the free trade port policies during the 14th Five-Year Plan period (2021-25), while creating the necessary framework for Customs clearance on the island by the end of 2024, Feng Fei, acting governor of the province, said on Sunday.
Duty-free sales in China's island province of Hainan maintained a rapid growth, becoming a new driver for the province's consumption growth.
A convenient "traffic network" including the sea, land and air has been constructed in Hainan.
Hainan was the first pilot province approved by the central government to carry out the reform of replacing multiple plans for provincial development with one master plan.
Hainan is the youngest province in China. It grew from the grand occasion of "100,000 talents crossing the strait" in its early days, and is growing now from the magnificent feat of "1,000,000 talents entering Hainan action plan".
Located in the conjoining area of Asia and the Pacific Ocean, Hainan island is roughly equidistant between Japan and Singapore. It is an important maritime transportation route connecting two major water systems: the Pacific Ocean and the Indian Ocean.
Overview
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