This year, Hainan Free Trade Port (FTP) will speed up the construction of supporting facilities in order to initiate independent customs operations.
Island-wide independent customs operation is a landmark project for the Hainan FTP. Hainan will promote 25 independent customs operation projects with a total investment of 11.7 billion yuan ($1.7 billion), which involves the construction of eight open ports and other facilities.
In addition, the province will deepen its key stress tests to further accelerate development. In 2023, the Hainan Provincial Development and Reform Commission will expand its list of FTP-encouraged industries, while relaxing market access.
Hainan will promote investment in its four leading industries, including culture and tourism, modern services, high-tech, as well as tropical characteristic and efficient agriculture. It will also further develop public services for local residents. It will continue to increase infrastructure investment by more than 10 percent, and grow its annual investment by about 12 percent.
The province will promote the progress of key engineering projects, such as the expansion of the Haikou Meilan International Airport Phase III, Sanya's new airport, the Zhajiang-Haikou High-speed Railway, and the expansion of the Greater Sanya section and Haikou Section of the G98 Roundabout Expressway.
Hainan will make efforts to attain investments and promote project construction in the first quarter, so as to boost and propel investment.
