An aerial view of the hustle and bustle at the Yangpu Port in Hainan, China’s southernmost province. (Photo by Liu Yang / HiNews)

China’s Yangpu Free Trade Port has made full use of preferential policies to attract investment in areas including cold chain logistics, high-end tourism consumer goods processing, and cross-border e-commerce in Hainan Province. As of May 25 this year, 1,230 corporations have been registered in the Yangpu Free Trade Port. 585 were registered this year, up about 23 times compared with the same period last year. Additionally, from January to April of this year, the total import and export value of the Yangpu Free Trade Port reached 4.06 billion yuan, a year-on-year increase of 7.59 times. Total operating revenue reached 39 billion yuan, an 83-fold increase over the same period last year. The total industrial output value was 155 million yuan, up 5.8 times year on year.

According to an official from the Office of the Free Trade Port Working Committee of the Yangpu Economic Development Zone, the Yangpu Free Trade Port has taken the lead in implementing a number of preferential policies as a model port for free trade in the island province. These include a value-added processing policy as well as allowing the establishment of commercial facilities in the area. Meanwhile, the Port has been working to provide an efficient registration process for the convenience of these corporations, hoping to attract more investment from China and around the world in the future.