HAINAN – In June 2020, China released a master plan to build the whole of Hainan Island into a globally influential and high-level free trade port by the middle of the century.

Official data showed the rapid development of the import and export of goods at the Hainan FTP. After exceeding 100 billion yuan (about 14.09 billion U.S. dollars) in 2021, the total volume of trade in goods exceeded 200 billion yuan in 2022, with an annual growth rate of 36.8 percent.