HAIKOU /China/, July 25. /TASS/. The transition of Hainan Free Trade Port to a new customs regime will have a positive impact on its trade and investment ties with Russia and other countries, the province’s press office told TASS.
“Following the transition to the new customs system, the degree of freedom and convenience in trade and investment cooperation between the Hainan Free Trade Port and other countries will increase even further. We sincerely welcome guests from around the world, including Russia, to come to Hainan for tourism and investment,” the office said.
As clarified in the statement, under the new customs framework, Hainan’s interaction with mainland China and its vast domestic market will remain just as close. “Hainan will offer higher-quality services so that tourists from around the world can enjoy an unforgettable vacation, and businesses from various countries can invest in the Hainan Free Trade Port and jointly seize development opportunities,” the document emphasized.
The provincial authorities noted that Russia is Hainan’s largest source of foreign tourists. "In 2024, Hainan received 178,000 visitors from Russia. With direct flights launching from various Russian regions to the island this year, we expect to see a significant increase in passenger traffic,” the press office reported.
The statement noted that Hainan is the largest free trade port by land area, boasting the most diverse industrial structure, allowing for for business operations, investment activity, leisure, and travel on the island. Key events related to Russia this year include the launch of an independent educational project by the Moscow Power Engineering Institute in the province and the China-Russia dialogue held in Sanya.
Starting December 18, Hainan will switch to a new customs system for the Free Trade Port. This means that in the near future, the list of duty-free goods imported into the province will expand from 1,900 to 6,600 items (up to 74% of the entire product nomenclature). The preferences will apply “to virtually all enterprises, institutions, and private non-profit organizations on the island that have a genuine need for imports.” All passenger traffic will continue to be regulated according to the existing rules: individuals traveling to the island for business or tourism will not need any additional documentation.