The Hainan Free Trade Port (FTP) has reached a significant milestone, six months after implementing full special customs operations, with a provincial delegation concluding a three-day visit to Hong Kong. During the trip, the delegation signed deepened cooperation agreements with major local chambers of commerce and promoted the latest policies introduced since the customs overhaul.
Data released by Hainan Province during the visit reveals robust growth. As of June 17, the province's total goods imports and exports reached RMB 173.98 billion (approximately US$24 billion), a 54.6% year-on-year increase. Imports of zero-tariff goods surged 120% to RMB 2.645 billion, generating tariff savings of RMB 440 million. Additionally, 172,100 new market entities were registered—a 61% increase—including 1,240 foreign-invested enterprises. Zero-tariff items now cover 74% of all tariff lines, benefiting more than 12,000 market entities.
At the heart of the Hong Kong visit, the China Council for the Promotion of International Trade Hainan Provincial Committee (CCPIT Hainan) signed separate deepened cooperation memorandums of understanding with the Chinese General Chamber of Commerce, Hong Kong and the Hong Kong General Chamber of Commerce. Under these MOUs, the parties will establish a regular liaison mechanism for periodic exchange of economic and trade information, and promote collaboration in areas including professional services, green finance, the digital economy, supply chain management, and cultural tourism. Mutual enterprise service desks will be set up to provide consulting services on policies and projects. The parties aim to leverage their complementary strengths to help Chinese mainland enterprises access overseas markets via Hong Kong, while facilitating Hong Kong companies' entry into the Chinese mainland through Hainan.
The delegation also held talks with the British Chamber of Commerce in Hong Kong and the American Chamber of Commerce in Hong Kong, exploring ways for British and American businesses to utilize Hainan's value-added processing tariff exemptions and multifunctional free trade accounts to position themselves in regional supply chains and cross-border investment and financing. HSBC, De Beers, and other British firms are already active in Hainan, and the UK served as the Guest of Honor country at the 2025 China International Consumer Products Expo.
According to industry analysts, amid the shifting international trade landscape, Hainan is leveraging Hong Kong's "super-connector" role to accelerate its integration with global capital and business networks, while simultaneously offering the Hong Kong business community a policy testing ground for entering the Chinese mainland market.
