Hainan embraces reform as its inherent DNA, anchoring its vitality in the open free trade port, said Hainan Governor Liu Xiaoming during the fourth session of the seventh Hainan Provincial People's Congress, which commenced in Haikou on Tuesday.

In 2024, Hainan made strides in attracting foreign investment and trade, boasting a 19.2 percent increase in foreign-funded enterprises and securing the seventh position nationwide in nonfinancial outbound investment. Notable achievements included substantial growth in imports and exports with Belt and Road Initiative countries and regions, a surge in new offshore international trade and the approval of the country's first digital processing trade zone, Liu said.

The province introduced 56 measures to enhance the business environment at ports and elevate foreign trade quality. Collaborations with global free trade zones expanded to 38 partners, while advancements in the service industry opening-up pilot program led to approvals in sectors like value-added telecommunications, medical care, health foods and specialized medical-purpose formula foods.

Cross-border transactions reached a scale of $108.63 billion. Hainan issued 16 facilitation measures for the work and life of foreign nationals, making it easier for citizens from 59 countries and regions to receive visa-free entry to Hainan, according to a government work report.

Looking ahead, 2025 marks a year of heightened opening-up and independent customs operations for Hainan Free Trade Port, said Liu.

This year, Hainan is poised to reinforce its position as a key open platform by deepening cooperation with developed nations in Europe and North America and strengthening ties with Belt and Road Initiative countries and regions while enhancing connectivity with industries in Southeast Asia, the Middle East, Central Asia, Africa, and Latin America.

This move aims to drive integrated development of domestic and international trade, foster dual-circulation enterprises and facilitate seamless business transitions between domestic and international markets. Hainan will also incentivize the growth of new formats such as green trade, comprehensive foreign trade services, cross-border e-commerce, and bonded maintenance. Efforts are underway to establish an export goods distribution center targeting Southeast Asian countries. Furthermore, the province aims to deepen the pilot program to expand the service industry's openness, focusing on developing distinctive sectors like digital trade, healthcare, aerospace and cross-border finance.

In line with international economic standards, Haikou announced the implementation of a comprehensive negative list for cross-border trade services. Sanya is accelerating policies for secure cross-border data flow and aiming to drive breakthroughs in open policies targeting retail and professional services.

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