China's Hainan FTP Promotion Event Successfully Held in Dubai

HAIKOU, China, May 21, 2025 (GLOBE NEWSWIRE) -- On May 19, the 2025 Hainan Free Trade Port (FTP) promotion event, focusing on the liberalization and facilitation of trade and investment, was held in Dubai.

Jointly organized by the Hainan Provincial People's Government and the Chinese Embassy in the UAE, with support from the China Council for the Promotion of International Trade Hainan Provincial Committee (CCPIT Hainan) and the China Chamber of International Commerce Hainan Chamber of Commerce (CCOIC Hainan), the event aimed to facilitate high-level dialogue and practical cooperation.

H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, stated that the UAE will actively align with the FTP's financial liberalization and cross-border trade facilitation policies, exploring innovative cooperation models in emerging fields such as AI and blockchain. UAE delegates at the conference expressed full confidence in the prospects of bilateral cooperation, stressing that governments, industrial parks, and trade promotion agencies of both sides should play an active role in advancing bilateral economic and trade collaboration.

During the conference, Hainan signed four batches of agreements with institutions from the UAE, Saudi Arabia, and other countries, covering new energy, free trade zone development, logistics parks, automotive trade, and headquarters base development.

Hainan provincial leadership underscored that after the customs closure, the FTP will adopt a framework centered on "zero tariffs, low tax rates, and a simplified tax system" to cultivate a market-oriented, law-based, and internationalized business environment. They highlighted the importance of deepening cooperation with the UAE in areas like the digital economy and green energy.

Chinese Ambassador to the UAE Zhang Yiming noted that the FTP's open policies closely align with the UAE's 50-Year Development Plan, adding that bilateral collaboration will set a new benchmark for China-Middle East economic and trade cooperation.

Hainan is intensifying efforts to build itself into a free trade port (FTP), aiming to establish independent customs operations by the end of 2025.

Source: CCPIT Hainan

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