Representatives from various business associations and enterprises in the United Kingdom (UK) have expressed their strong interest and unwavering confidence in China’s Hainan Free Trade Port (FTP).
During a promotional conference for Hainan FTP held in the UK, Chinese Ambassador to Britain Zheng Zeguang emphasized that the development of Hainan FTP is a national strategy and significant progress has already been made. In June 2020, China unveiled a comprehensive plan to transform Hainan Island into a globally influential and high-level free trade port by the mid-21st century.
After three years, Hainan has experienced substantial growth and progress due to the implementation of favorable policies and continuous efforts towards openness. It is rapidly advancing towards becoming a free trade port with global influence.
Ambassador Zheng stressed that the Chinese government is committed to accelerating the development of the FTP and fully utilizing its potential as a pilot platform. He encouraged the British business community to seize the opportunities presented and actively participate in the growth of this new mega-port.
Sherard Cowper-Coles, chair of the China-Britain Business Council, emphasized Hainan’s strategic importance as the gateway to southern China and the entire nation. He expressed hope for further experimentation and innovation in Hainan, aiming to take it to new heights. Cowper-Coles also highlighted the significance of trade and economic relations between the UK and China, stating that deepening engagement with China is in Britain’s economic interest.
Giles Williams, managing director of Brooke House College, signed a memorandum of understanding with Hainan’s Sanya Investment Promotion Bureau. He praised the open and welcoming business community in Hainan and expressed optimism about establishing strong commercial ties in this supportive environment.
Official data revealed the rapid growth of import and export activities at Hainan FTP in recent years. The total trade volume exceeded 100 billion yuan (14 billion U.S. dollars) in 2021 and surpassed 200 billion yuan in 2022, with an annual growth rate of 36.8 percent.
During the conference, Hainan officials pledged to further open up to the world and introduced a series of policies related to tariffs, taxes, visas, and more.
Amanda Unsworth, managing director of Trinity Logistics Limited, expressed her enthusiasm for the opportunities presented in Hainan after attending the conference. She described the prospects in Hainan as fantastic and eagerly anticipated engaging in business activities there.
Zhang Bin, director of the Department of Commerce of Hainan Province, highlighted the positive response received from the audience, leading to increased conversations and exchanges. This feedback further strengthens their confidence in the future development of the free trade port.