China rolled out a plan back in 2018 to create the Hainan Free Trade Port (FTP), with the aim of transforming this island province into a major player in global trade by the middle of the century. 

So, since its creation in 2018, the Hainan FTP has been offering some sweet deals for businesses. They lowered the income tax rate to a cool 15% for certain industries and slashed import and export duties. They've got a bunch of other incentives too, all to attract businesses from around the world.

But, what does all this mean for regular folks like us?