Edited By WANG Xiaoxia

The Hainan Free Trade Port (FTP) in southern China officially launched island-wide special customs operations on December 18, a milestone in China's effort to expand high-level opening up and promote an open world economy.

The island-wide special customs operations aim to eliminate barriers with a two-tiered customs system, described as "freer access at the first line, regulated access at the second line and free flow within the island."

The "first line" is between Hainan and overseas markets, and the freer access allows overseas goods to enter the island more conveniently, with most of them benefiting from zero tariffs and faster clearance.

The "second line" defines the customs boundary between Hainan and the mainland, where goods will undergo standard customs oversight to ensure fairness and prevent smuggling.

After the special operations, zero-tariff products in the FTP will increase from 21 percent to 74 percent, while the number of tariff-free items in Hainan rises to around 6,600, covering nearly all production equipment and raw materials.

The Hainan FTP will implement more favorable zero-tariff policies, more lenient trade management measures, more simplified customs clearance procedures and more efficient and precise supervision, according to a Hainan provincial government official.

At a recent investment promotion event, Liu Xiaoming, the governor of Hainan, pointed out that choosing Hainan means choosing opportunities, and investing in Hainan means investing in the future.

Hainan's unique conditions, combined with open policies, are bolstering multiple industrial upgrades. The secure and orderly flow of data is helping develop digital industries, and the existing petrochemical industrial chain can be extended to develop high-end new materials and green chemical industries.

Hainan's Nanfan breeding base is a vital hub for research, testing, and producing new crop varieties and seeds. Its resources are expanding the modern seed industry.

The island's ocean resources can be leveraged to cultivate deep-sea technology and industry. The Wenchang Commercial Space Launch Site will attract more aerospace-related enterprises.

Supportive policies and regulation measures are adding to the boost. For example, the new regulations on tax-related professional services in the Hainan FTP allow overseas personnel to take the certified tax agent examination and support cooperation with overseas institutions to better serve cross-border business.

According to the Overall Plan for the Construction of the Hainan FTP, the island will see liberalization and facilitation "basically established" by 2025, become "more mature" by 2035, and develop into a globally influential duty-free trading center by 2050.