The island-wide special customs operations at the Hainan Free Trade Port (FTP) in south China were officially launched on Thursday. CGTN published an article highlighting how the port's preferential policies will further stimulate business investment, facilitate cross-border flows of goods and production factors, and position Hainan as a key hub connecting domestic and international markets.
BEIJING, Dec. 18, 2025 (GLOBE NEWSWIRE) -- China on Thursday launched island-wide special customs operations in south China's Hainan Free Trade Port (FTP), the world's largest FTP by area, allowing freer entry of overseas goods, and expanded zero-tariff coverage and more business-friendly measures.
Hearing a work report on the FTP in early November, Chinese President Xi Jinping hailed the special customs operations as a landmark move to expand high-standard opening up and promote an open world economy. He called for efforts to better facilitate cross-border flows of factors of production and strive to create a first-rate business environment.
The idea of establishing the FTP was first proposed in 2018. Since then, multiple preferential policies - including duty-free shopping and low corporate income tax - have been introduced to make the business friendly FTP gradually take shape.
Starting on Thursday, the share of zero-tariff products in the Hainan FTP will surge from 21 percent to 74 percent, with the number of tariff-free items expanding from about 1,900 to 6,637, covering nearly all production equipment and raw materials.
Lan Zhenzhen, president of public affairs for L'Oréal North Asia and China, is optimistic about the company's growth following Thursday's launch.
"As China's largest free trade pilot zone, Hainan FTP houses the world's largest single duty-free store and is a major global shopping destination," Lan said. "In the future, L'Oréal will continue to invest in Hainan to better serve global consumers."
