HONG KONG SAR – As the Hainan Free Trade Port (FTP) reached its six-month milestone since full special customs operations began, a Hainan provincial delegation concluded a three-day visit to Hong Kong. During the visit, the delegation signed deepened cooperation agreements with major local chambers of commerce and promoted the latest policies implemented since the island-wide customs regime took effect.
Data released by Hainan Province during the visit reveals significant economic gains. As of June 17, total goods imports and exports reached RMB 173.98 billion (approximately US$24 billion), a 54.6% year-on-year increase. Imports of zero-tariff goods surged to RMB 2.645 billion, up 120%, generating tariff savings of RMB 440 million. New market entities registered totaled 172,100—a 61% rise—including 1,240 foreign-invested enterprises. Zero-tariff items now cover 74% of all tariff lines, benefiting over 12,000 market entities.
During the Hong Kong visit, the China Council for the Promotion of International Trade Hainan Provincial Committee (CCPIT Hainan) signed separate deepened cooperation memoranda of understanding with the Chinese General Chamber of Commerce, Hong Kong and the Hong Kong General Chamber of Commerce. The agreements establish a regular liaison mechanism for periodic exchange of economic and trade information and promote collaboration in professional services, green finance, digital economy, supply chain management, and cultural tourism. Mutual enterprise service desks will be set up to provide consulting on policies and projects, leveraging complementary strengths to help mainland enterprises access overseas markets via Hong Kong while facilitating Hong Kong companies' entry into the Chinese mainland through Hainan.
Talks were also held with the British Chamber of Commerce in Hong Kong and the American Chamber of Commerce in Hong Kong to explore how British and American businesses can utilize Hainan's value-added processing tariff exemptions and multifunctional free trade accounts to position themselves in regional supply chains and cross-border investment and financing. HSBC, De Beers, and other British firms are already active in Hainan, and the UK served as Guest of Honor at the 2025 China International Consumer Products Expo.
Industry analysts note that amid the shifting international trade landscape, Hainan is leveraging Hong Kong's "super-connector" role to accelerate its integration with global capital and business networks. Simultaneously, it offers the Hong Kong business community a policy testing ground for entering the Chinese mainland market. The agreements signed during this visit underscore the strategic importance of the Hainan FTP in China's broader economic opening-up strategy.
