Hainan is China’s largest special economic zone (SEZ), the largest pilot free trade zone and the only free trade port with Chinese characteristics. The building of a free trade port with Chinese characteristics in Hainan is a major initiative planned, guided, and promoted by Gener-al Secretary Xi Jinping in the reform and opening-up strategy, and a strategic decision made by the Central Committee of the Communist Party of China (CPC) in light of the domestic and international situations

The Central Committee of the CPC and the State Council officially unveiled the Overall Plan for the Construction of Hainan Free Trade Port (hereinafter the “Overall Plan”) on June 1, 2020. This marked that the construction of Hainan Free Trade Port entered the stage of full implementation. The Overall Plan states that the the coverage areas of Hainan Free Trade Port include the entire Hainan Island. By 2025, a free trade port policy and institutional system featuring free and facilitated trade and investment will be initially established. It will become a new model for opening-up economy in China by 2035. A high-level free trade port with strong international influence will be completed by 2050