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China forms Free Trade Zone in Hainan

Jakarta -Hainan, one of the provinces in China, gained some incentives from the central government to push the province as an international destination.

Hainan, now called China’s Hawk, will be an international port of free trade. The status was imposed on Hainan as an attempt to boost the tourism industry.

Based on Chinese President Xi Jin Ping’s remarks, citing bloomberg on Saturday (14/4), the government is working to make Hainan a gateway for global investors.

Xi Jin Ping plans to establish a ‘free trade zone’ and will prioritize the health, financial, and tourism sectors. Hainan will also open itself with the arrival of ‘duty free shopping’ and international flights will also continue to be reproduced.

The plan is expected to boost the arrival of local and foreign tourists to Hainan. At the same time, entrepreneurs and developers began investing billions of dollars by building resorts and shopping centers.

Hainan government data show as many as 67 million tourists visited Hainan last year. The arrival of the tourists helped the growth of the tourism industry to US $ 13 billion. Nevertheless, the number of foreign tourist arrivals only about 1.1 million which is quite a contrast with tourism destinations in Asia such as Vietnam and Thailand.

Previously, Xi Jin Ping attended Boao Forum for Asia in Hainan which brought world leaders to this island. In the forum, Chinese leaders are committed to opening up Hainan for the banking and manufacturing sectors amid a warming ties between China and the United States.

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Written by DI

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