Hainan Yangpu: Free Trade Port Construction in Full Swing

By Li Xiang / HICN / Updated: 01:03,09-July-2022

Last Friday, over 60 new projects were signed or began construction in Yangpu Economic Development Zone, one of the eleven key industrial parks in China’s southern province of Hainan. According to local authorities, most of these projects are industrial projects, encompassing sectors including warehousing & logistics, petrochemical & new materials, and food processing.

A pilot and demonstration zone for free trade in Hainan - The Yangpu Economic Development Zone has taken the lead in implementing a number of preferential policies. HINEWS / LIU YANG

Earlier in May, Yangpu invested about 62 billion yuan ($9.3 billion) to improve the highway network in the area. The move has brought in more new warehousing & logistics projects to the area from leading enterprises such as JDL (Jingdong Logistics), Tianyun International Logistics, which will further boost cargo throughput at the Yangpu Port upon completion.

Meanwhile, among the enterprises that signed contracts with Yangpu last Friday, close to a dozen are either Global Fortune 500 or Fortune China 500 enterprises. Projects launched by these enterprises involve headquarter economy, food processing, international trade, infrastructure construction and more.

One such project is the Hainan International Energy Exchange Center jointly established by Shandong Energy Group, China Huaneng Group and State Power Investment, three Global Fortune 500 enterprises. The headquarters of the center, to be built in Yangpu, will be an urban complex which once completed will provide office space, hotel services, commercial retail and entertainment facilities. “We will leverage the preferential policies brought by both Yangpu and the Hainan Free Trade Port in the process of building a world-class commodity trading venue to serve the whole world”, said a representative of the project.

The construction boom in Yangpu can be attributed primarily to the ongoing efforts made by local authorities to attract investment and optimize the business environment. These include simplifying the review & approval process and assigning dedicated service staff to assist enterprises in troubleshooting issues.



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