Construction of Hainan FTP progresses steadily

A Chinese official says steady progress has been made in building China's island province of Hainan into a free trade port (FTP).

Shen Xiaoming, Party chief of Hainan, said last week that over the past two years, over 180 policies and measures have taken effect in Hainan to facilitate trade and investment.

As one of the country's major opening-up measures in the new era, China aims to build the whole of Hainan Island into a globally influential and high-level FTP by the middle of the century.

The wider opening-up push is delivering visible outcomes.

The number of registered market entities in Hainan has increased from less than 310,000 in 2013 to more than 1.98 million, with the growth rate ranking first in the country for 28 consecutive months.

According to a plan on the Hainan FTP released by the central authorities in 2020, the Hainan FTP is set to initiate independent customs operations by 2025.