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Wang Changlin, deputy head of the National Development and Reform Commission (NDRC), announced that the free trade port will launch island-wide independent customs operation on December 18, 2025. The proportion of tariff lines with zero-tariff products in Hainan Free Trade Port will increase from 21 percent to 74 percent.
On June 10, 2021, the 29th meeting of the Standing Committee of the 13th National People's Congress passed the Hainan Free Trade Port Law of the People's Republic of China, which determined to establish and improve the Hainan Free Trade Port customs supervision special zone system with closed-off customs operations on the entire island.
South China’s tropical island province of Hainan is intensifying efforts to establish itself as a high-level free trade port (FTP) by 2025. Key plans were outlined in a government work report presented during the annual session of the Hainan Provincial People’s Congress on Tuesday.
The "Notice on Preferential Corporate Income Tax Policies for Hainan Free Trade Port" proposed that enterprises in encouraged industries registered and operated in Hainan Free Trade Port shall be subject to a reduced corporate income tax rate of 15%.
On June 10, 2021, the 29th meeting of the Standing Committee of the 13th National People's Congress passed the Hainan Free Trade Port Law of the People's Republic of China, which determined to establish and improve the Hainan Free Trade Port customs supervision special zone system with closed-off customs operations on the entire island.
"With the independent customs operations, Hainan FTP is poised to become a key gateway for China's new era of opening up and innovation," Cai added. China's Hainan Free Trade Port (FTP) is set to launch an island-wide independent customs operation on Dec. 18, 2025, underscoring the country's wider push for high-standard opening up.
BEIJING, Aug. 8 -- China's Hainan Free Trade Port (FTP) is set to launch an island-wide independent customs operation on Dec. 18, 2025, underscoring the country's wider push for high-standard opening up.
The Ministry of Commerce will make more efforts to support Hainan in aligning with high-standard international economic and trade rules, enhancing institutional openness, and fostering new growth drivers through targeted measures, Jiang said.
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In March, Scatec ASA began construction of a 100-megawatt solar power plant in Botswana’s northeast. The initial 60 megawatts of this project are expected to come online by the end of this year. The Ministry of Minerals and Energy is also working on additional renewable energy projects.
The power plant is Scatec’s first in Botswana and will generate predictable revenues from a 25-year power purchase agreement (PPA) with Botswana Power Corporation, the national utility. The remaining 60 MW of the project is currently under construction and is expected to be completed in the beginning of 2026.
The project is a key development in Botswana’s renewable energy sector, marking the country’s second utility-scale solar facility. The contract which is valued at $78.3 million includes partnerships with China Water and Electric Development Co. and local investors.
Botswana has awarded a $78.3 million contract to build a 100-megawatt solar plant to a consortium led by China Harbour Engineering Co. The project which is Botswana's second utility-scale solar facility is set to be completed in the second quarter of 2026.
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