China’s decision to advance the “independent customs operation” of the Hainan Free Trade Port marks a significant milestone in its broader reform and opening-up agenda. The launch of the Hainan Free Trade Port (FTP) has drawn growing attention from South African economists and policy analysts, who see the initiative as a strong signal of China’s continued commitment to high-level opening-up and deeper global economic integration. With key features such as zero tariffs on selected goods, a low corporate tax regime and simplified customs procedures, the Hainan FTP is positioned as an important gateway linking Asia with global markets.
Dr Rutendo Hwindingwi, CEO of Tribe Africa Economics. South African economist Dr Rutendo Hwindingwi, CEO of Tribe Africa Economics, said the scale and structure of China’s trade system offer valuable opportunities for African economies. “China’s production capacity is immense, and Hainan’s free trade framework allows African exporters to move beyond raw materials and increase the value of products entering the Chinese market,” he noted.Hwindingwiadded that sectors such as agribusiness, wine, e-commerce and fintech services could benefit from preferential access and lower operating costs within the trade port.
“China’s production capacity is immense, and Hainan’s free trade framework allows African exporters to move beyond raw materials and increase the value of products entering the Chinese market,” he noted. added that sectors such as agribusiness, wine, e-commerce and fintech services could benefit from preferential access and lower operating costs within the trade port. Professor Peter Baur, an economist from the University of Johannesburg.
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From a business and innovation perspective, Professor Peter Baur, an economist from the University of Johannesburg, described the Hainan Free Trade Port as “more than a traditional trade zone”. He highlighted its emphasis on innovation,digitalisationand entrepreneurship. “This initiative creates an environment where companies – fromstartups to large multinationals – can operate with fewer trade barriers, greater efficiency and access to larger regional markets, particularly in Southeast Asia,” Baur said.
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