Hainan FTP to enhance regional, global trade cooperation: int'l observers

The launch of island-wide special customs operations in the Hainan Free Trade Port (FTP) demonstrates China's commitment to high-level opening-up and will further enhance regional and global trade cooperation, according to international experts and foreign officials.

The move, which took effect Thursday, sees China's tropical southern island province of Hainan become the world's largest FTP by area, at more than 30,000 square kilometers. Under the new arrangements, Hainan has been designated as a special customs supervision zone, allowing the freer entry of overseas goods, expanding zero-tariff coverage and offering more business-friendly measures.

"The establishment of the Hainan Free Trade Port and other similar zones in China is an effective tool for promoting, improving and diversifying foreign trade. The measures taken by the Chinese authorities are making a significant contribution to expanding business opportunities for both Chinese and foreign citizens," said Maria Zakharova, spokeswoman for the Russian Foreign Ministry.

"These measures will contribute to the further development and prosperity of regional and global trade. China is a leader in contemporary global trade," said Andrey Denisov, first deputy chair of the Russian Federation Council Committee on Foreign Affairs.

Others said the move was a major step by China in its bid to open its economy to global investors.

"They're really serious about opening up, and China wants to let the world know that they are serious about allowing goods, services, capital and all the free trade to be able to go in between China and the rest of the world," said William Lee, chief economist at the Milken Institute.

"The creation of the free trade zone is not only an opportunity for China to further extend its participation in regional trade as an entrepot port for trade right across the region, but also providing great opportunities for Australia to extend and diversify its trade with China," said John Lander, a former Australian diplomat to China.

Hainan FTP to enhance regional, global trade cooperation: int'l observers

The value of import and export cargo shipped on the shipping route between Shanghai in China and Chancay Port in Peru has reached 5.57 billion yuan (about 790 million U.S. dollars), Shanghai Customs said on Friday.

The route has handled 205,000 tonnes of goods since its launch a year ago.

The shipping route became fully operational when the first container vessel from Chancay arrived at Shanghai's Yangshan Port on Dec. 18, 2024, following the official opening of Chancay Port the month before.

The route cuts sea transit times between China and Peru from 35 to 40 days to just 23 days, reducing logistics costs by more than 20 percent. Driven by the route, Shanghai's imports and exports with Peru registered a 40.3 percent year-on-year increase in the first 11 months of 2025.

Perishable goods such as avocados and blueberries are transported via a green channel established at Shanghai's Yangshan Customs, which ensures expedited clearance.

The route has also facilitated automotive exports.

Chancay Port, a deep-water hub and South America's first smart green port, is a flagship Belt and Road cooperation project between China and Peru.

Chancay-Shanghai shipping route moves goods worth over 5.5 billion yuan