BEIJING, April 18, 2025 /PRNewswire/ — At the Boao Forum for Asia (BFA) Annual Conference 2025, discussions in multiple languages echoed across packed venues. Over 1,000 guests from more than 60 countries and regions gathered to witness the new chapter of openness in the Hainan Free Trade Port (FTP).
"Investing in Hainan is investing in China, while investing in China is investing in the future" has become a shared belief.
Carl F. Fey, professor of strategy at BI Norwegian Business School, said that the island-wide zero-tariff policy following the FTP’s independent customs operations will significantly reduce costs for businesses.
Ben Simpfendorfer, a partner at the leading international management consulting firm Oliver Wyman, noted that Hainan’s unique customs system is becoming a key gateway between China and the Global South.
Hainan regards reform as a top priority in its drive to build a first-class business environment.
Wang Xuehao, deputy head of the Hainan Provincial Department of Business Environment Development, said that Hainan has formulated a series of opening-up measures to create a "foreign investment-friendly" business environment and streamlined full-process services for foreign nationals.
As a witness to Hainan’s development, Swire Coca-Cola’s operations in the province have spanned 36 years. The company’s newly established supply chain management firm, which settled in Hainan in 2023, has truly benefited from policy dividends such as the "double 15 percent" tax incentives.
By the end of 2024, the province was home to 9,979 foreign-funded enterprises, with 77.3 percent established after the launch of the FTP. The number of countries and regions investing in Hainan has surged from 43 to over 170.
Now, Hainan is preparing a series of major events to translate the blueprint of its modern industrial system into more cross-border collaborations and accelerate its path toward high-level opening-up.
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