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Hainan Authorities Called The City Of Sanya A Key Link In The Development Of The Free Trade Zone

Hainan Authorities Called The City Of Sanya A Key Link In The Development Of The Free Trade Zone

Over the past two years, the city of Sanya has become a key link in the formation of the free trade zone and port of the South Chinese Island of Hainan. This is stated in an information material distributed by the Propaganda Department of the Provincial Party Committee.

"During the two years that the Hainan free trade port was being formed, Sanya was able to achieve amazing results and become a key part of this project," it says.

The authorities recalled that since 2018, the resort city has noticeably intensified the implementation of not only trade and economic, but also cultural and public programs, among the most notable events of which is the Hainan international film festival. In addition, as noted, a significant breakthrough was achieved in the promotion of various entertainment projects, including in the field of consumer tourism. An important role in its development was played by the world's largest duty-free zone, located in Sanya.

According to the approved plan, by 2021, Sanya should have optimal conditions for the formation of the financial sector, which is expected to play an important role in the development of the local free trade zone. For this purpose, many Chinese and foreign corporations, banks and insurance companies will open their representative offices on the island.

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