Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
HAIKOU, June 21 (Xinhua) — Canadian tourist Stephanie Wing Xi Yao found the wellness treatments at a medical center in Boao Township, south China’s Hainan Province, more like a “resort.”
“Everything here is top-notch, the staff pays attention to all aspects of health – not only physical but also mental,” she told Xinhua at the Lecheng International Medical Tourism Pilot Zone in Boao, which is home to more than 30 leading domestic and foreign medical institutions.
Through special policy measures, 485 advanced drugs and medical equipment licensed abroad but not yet available domestically were brought into the pilot zone, benefiting more than 130,000 patients, including Yao.
Her four-day experience at the medical centre, which combined cutting-edge medical examinations, traditional Chinese medicine treatments, tea ceremonies and cultural immersion, was much more than just a chance to relax. It demonstrates the concrete outcome of a key step in China’s opening-up strategy: turning Hainan into a free trade port (FTP).
As Hainan FCT prepares to launch a separate customs control regime by the end of the year, it plans to become not only a tourist mecca but also an important gateway for China’s high-level opening-up.
PLACE OF FREE MOVEMENT OF FACTORS
The central component of this transformation is the Lecheng Medical Tourism Pilot Zone. A total of 25 medical tourism routes have been launched, covering a wide range of needs, including traditional Chinese medicine, chronic disease treatment, premium diagnostics, and beauty rehabilitation, which have gained popularity among residents of Indonesia, Russia, Spain, and other countries.
In 2024, the medical special zone was visited more than 410,000 times, which is 36.76 percent more than the previous year.
Lecheng is just one part of Hainan’s broader efforts to open up. Beyond the medical sector, the province is accelerating foreign companies’ access to finance, education, communications and high-tech industries as China seeks to create a free trade zone with the highest global trading standards.
Backed by China’s huge domestic market and its strategic positioning, Hainan is an important hub linking the world’s second-largest economy to global markets.
The Hainan PCT is poised to become “a key gateway leading China into a new era of opening up,” said Chi Fulin, head of the China Institute of Reform and Development Studies.
With the approach of the launch of the separate customs control regime, the political system of the PST was formed, based on such features as zero tariffs, low tax rates, a simplified tax system and facilitated movement of production factors.
For companies based in Lecheng, the zero-tariff policy on medical imports has saved nearly 8.2 million yuan (about $1.14 million) in duties since December 2024.
The launch of separate customs control will be a concrete step towards creating an important gateway for China’s high-level opening up, Chi Fulin noted.
INSTITUTIONAL OPENNESS ATTRACTS FOREIGN CAPITAL
Since the Hainan FCT has prioritized institutional integration and coordination in trade, financial and regulatory systems, experts believe that this will create a strong driving force for the development of the FCT and contribute to China’s high-level opening-up expansion strategy.
Official data show that Hainan Province has implemented a total of 158 institutional innovations to date. These reforms include technology-enhanced government tenders, a one-stop shop for business licenses, and the establishment of a dedicated IP zone to support the breeding industry.
The Hainan Free Trade Zone serves not only as a testing ground for the free movement of goods, services and data, but also as a front for innovation in regulation and mechanisms, said Zhou Xiaochuan, vice chairman of the Boao Forum for Asia (BOA).
With an optimized business environment, Hainan has become a leading destination for foreign investment, ranking among the best in the country in terms of its performance. In 2024, the number of foreign-invested enterprises in Hainan increased by 19.2 percent year-on-year, and the volume of foreign direct investment attracted allowed the region to rise to 10th place in the country.
To date, Hainan has attracted investment from 158 countries and regions, and its economic openness ratio – the ratio of total foreign trade to GRP – has more than doubled from 17.3 percent in 2018 to 35 percent in 2024.
The province’s landmark events such as BAF, a leading platform advocating for openness and multilateral cooperation, and the China International Consumer Goods Expo, the largest consumer expo in the Asia-Pacific region, offer dynamic opportunities for global investors to observe China’s evolving opening-up agenda.
LVMH’s luxury retail arm DFS made its largest single investment in 60 years in 2024, opening a landmark complex in Yalong Bay in Sanya, Hainan’s famous tropical resort city. The project will combine luxury retail, hotels and entertainment to create a premier luxury shopping and tourism destination.
“The Hainan FTA represents China’s commitment to high-standard opening-up,” said DFS China President Nancy Liu.
China’s special economic zones, such as the Hainan Free Trade Zone and the 21 pilot free trade zones, serve as key drivers of industrial transformation and opening-up, Chi Fulin stressed, noting their role as “growth accelerators for both regional and global economies.”
Once the separate customs control is put into effect, the Hainan FCP will create key opportunities for international enterprises to more effectively access China’s domestic market and play a greater role in strengthening market connectivity with global markets through regulatory harmonization focused on trade in services, he added. -0-