First flight of international tourists arrive in Hainan under seventh-freedom traffic right

A total of 115 Czech tourists landed in Sanya, a major city in south China's Hainan province, on Monday aboard a Kazakh flight, the Hainan Free Trade Port's first operational air service under the "seventh-freedom traffic right."

Flight DV481, operated by Kazakhstan's SCAT Airlines, left Sanya Phoenix International Airport on Sunday morning for Prague, the Czech Republic.

The return flight, DV482, arrived in Sanya on Monday, with the Czech passengers entering China smoothly.

"We would like to see this country and visit and enjoy the summer, because we have cold [weather], snow. So, this location will be the best," said a Czech tourist.

"There is a 30-day free-visa [policy] to Hainan for Czech people, so it's nice," said another tourist.

The Seventh-freedom traffic rights allow an airline to carry passengers or cargo solely between two foreign countries without any connection to the airline's home country.

"Sanya is a key city in the development of the Hainan Free Trade Port (FTP). Prague, as a major European tourism and cultural hub, holds significant appeal. We hope the project will be successful, because it will help significantly facilitate the travel between the two countries," said Vladimir Andreevich Sytnik, vice-president of SCAT Airlines.

"The air service is a vivid embodiment of the Belt and Road Initiative. It enhanced the regional connectivity. Launching the air service under the 'seventh-freedom traffic rights' is just an initial effort with further expansion to be planned across China and other parts of the world," said Darkhan Katyshev, deputy chairman of the Civil Aviation Committee at Kazakhstan's Ministry of Transport.

As of now, Sanya has launched a total of 41 international air routes connecting 32 overseas destinations and will continue to roll out more airline services under the "seventh-freedom traffic right" and the "fifth-freedom traffic right."

"The pilot operation of the airline is a key step of the Hainan Free Trade Port (FTP) in building 'two hubs' and in constructing an international aviation and maritime transportation network after the region launched island-wide special customs operations," said Han Luhai, chairman of the Sanya Phoenix International Airport.

The "two hubs" refers to the international shipping hub for the New International Land-Sea Trade Corridor and the aviation hub serving as a regional gateway to the Pacific and Indian oceans.

China on Thursday launched island-wide special customs operations in the Hainan FTP, the world's largest FTP by area, allowing freer entry of overseas goods, expanded zero-tariff coverage and more business-friendly measures.

First flight of international tourists arrive in Hainan under seventh-freedom traffic right

Both Gold and silver prices hit record highs on Monday, driven by geopolitical tensions and market expectations for further U.S. Federal Reserve rate cuts.

Spot gold prices breached 4,420 U.S. dollars per ounce during the intraday trading on Monday, while gold futures contract on the New York Mercantile Exchange (NYMEX) briefly surpassed 4,450 U.S. dollars per ounce, both hitting all-time highs.

In addition, the silver futures contract on NYMEX climbed above 69.5 U.S. dollars per ounce on Monday, surging nearly three percent, also reaching a record high.

Bloomberg News reported that escalating geopolitical tensions and market expectations for further Fed rate cuts were the primary drivers behind the soaring gold prices.

Traders anticipate the Fed will cut rates twice in 2026 following last week's release of a series of U.S. economic data.

Meanwhile, U.S. President Donald Trump has consistently advocated more accommodative monetary policies.

Persistent geopolitical tensions in recent weeks have also heightened the safe-haven appeal of gold and silver.

Bloomberg projected on Monday that both gold and silver are poised for their strongest annual gains since 1979.

Due to purchases of central banks and inflows into exchange traded funds (ETFs), gold prices have surged by about two-thirds this year.

Gold-backed ETFs have recorded five consecutive weeks of increased inflows.

World Gold Council data shows that, except for May, the total holdings of these funds have increased month on month this year.

Beyond central banks, investors have also played a significant role in the gold price rally.

Fueled by concerns over the value of sovereign bonds and their denominating currencies, investors have been fleeing these assets.

The Wall Street Journal reported in October that investors who were concerned about the outlook for currencies like the U.S. dollar were aggressively buying alternative assets such as gold.

Goldman Sachs released a research report on December 18, forecasting that gold prices would rise to 4,900 U.S. dollars per ounce by the end of 2026.

Gold, silver prices soar to new record highs as investors hunt for safety