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With a zero-tariff system fundamentally in place after the independent customs operation, high-quality global resources can flow into Hainan with greater freedom and efficiency, Wu said. Trade liberalization and facilitation are defining features of a free trade port.
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.
As a key initiative in China's opening-up strategy, the Hainan Free Trade Port is set to begin independent customs operations by year end, and global enterprises are eyeing the vast opportunities that come with open trade. [Photo/Xinhua]
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.
"We will strive to build the Hainan Free Trade Port into an important gateway leading China's opening up in the new era, contributing to the sustained development of the Chinese economy as well as injecting stability and certainty into the world economy," said Yuan, assistant minister of commerce. ■
"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.
With a zero-tariff system fundamentally in place after the independent customs operation, high-quality global resources can flow into Hainan with greater freedom and efficiency, Wu said. Trade liberalization and facilitation are defining features of a free trade port.
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.
Nio has introduced its fourth-generation battery exchange station in China, marking a significant advancement in its service offerings. The new ‘Power Swap Station 4.0’ boasts a 22% faster swapping process than the previous generation, completing a swap in just 144 seconds.
In the short term, CATL aims to have more than 500 battery swap stations by 2025 and 3,000 by 2027. (File photo shows a CATL EVOGO battery swap station model. Image credit: CnEVPost) CATL said it plans to build 10,000 battery swap stations, marking the first time the power battery giant has revealed specific targets regarding the business.
The first batch of NIO Power Swap Station 4.0 went live. The fourth generation supports automated battery swap for multiple brands and different vehicle models. NIO, ONVO and all battery swap strategic partners can access the new stations for a comprehensively elevated battery swapping experience that is more convenient than gas refueling.
As of June 13, NIO has installed 2,432 Power Swap Stations and 22,633 chargers in China, among which 804 swap stations and 1,650 super chargers are on highways. NIO is the car company with the largest battery swapping and charging network in China.
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Battery Energy Storage System is very large batteries can store electricity from solar until it is needed, and can be paired with software that controls the charge and discharge.
Justrite’s Lithium-Ion battery Charging Safety Cabinet is engineered to charge and store lithium batteries safely. Made with a proprietary 9-layer ChargeGuard™ system that helps minimize potential losses from fire, smoke, and explosions caused by Lithium batteries. Shop Now
Lithium batteries have become the most commonly used battery type in modern energy storage cabinets due to their high energy density, long life, low self-discharge rate and fast charge and discharge speed.
Energy Storage Cabinet is a vital part of modern energy management system, especially when storing and dispatching energy between renewable energy (such as solar energy and wind energy) and power grid.
Lithium battery modules are usually composed of multiple battery cells, so they need to be monitored and managed by a battery management system (BMS). Battery Management System (BMS): BMS is responsible for monitoring the status of the battery to ensure that each battery cell is within a safe operating range.
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