Editor's note: Zhou Jianjun is an assistant researcher at the Institute of State System Research and the School of Economics, Zhejiang University. The article reflects the author's opinions and not necessarily the views of CGTN.

The Hainan Free Trade Port's island‑wide special customs operations mark a major step in China's institutional opening‑up and carry profound strategic significance for shaping a new landscape of opening‑up. Since the launch of island-wide special customs operations over three months ago, a series of encouraging achievements have laid a solid foundation for the sound and stable development of the Hainan Free Trade Port.

From "pilot base" to "strategic hub": Setting a new benchmark for opening‑up

The Hainan Free Trade Port has evolved beyond a mere pilot zone for new forms of opening‑up; it has become a strategic hub for China to benchmark against high‑standard international economic and trade rules and to explore institutional opening‑up. Since Hainan launched full‑island independent customs operations on December 18, 2025, the scope of zero-tariff goods has expanded from about 1,900 tariff items to approximately 6,600, raising coverage from 21% to 74%. Imported goods that undergo at least 30% value‑added processing in Hainan can enter the Chinese mainland tariff‑free. 

The category of eligible beneficiaries has broadened from independent legal persons to encompass all types of enterprises and public institutions, attracting a large influx of domestic and foreign companies. This development is not merely an expansion of policies but represents the systematic implementation of the institutional framework featuring "first‑line liberalization and second‑line regulation". In 2025, Hainan's provincial legislature reviewed and adopted 12 pieces of free trade port-related legislation to codify institutional innovation. The governance model that balances "greater openness with effective management" provides a replicable "pressure test" for aligning with high‑standard international economic and trade norms nationwide, thereby establishing a new benchmark for external opening‑up in China.

From "factor flows" to "value creation": Unlocking new drivers of high‑quality development

Since the start of independent customs operations, explosive growth in foreign trade has validated the shift in the free trade port's development focus from factor flows to value creation. By the end of February 2026, Hainan's total goods trade import and export value reached 65.49 billion yuan, an increase of 29.1% year‑on‑year, outpacing the national average growth rate by 14.1 percentage points. Besides, exports grew by 55.4%, ranking first nationwide. More significantly, the number of enterprises with actual import and export performance rose to 2,108, up 48.5%, of which 1,944 were private enterprises; these firms accounted for 75.2% of the province's total foreign trade value, underscoring the full unleashing of endogenous dynamism and creative vitality among market entities. 

At the same time, multi-functional free trade accounts (EF Accounts) have witnessed continuous growth. By the end of 2025, 11 banks in Hainan had launched EF account services, with 810 accounts opened and transaction volumes reaching 350.9 billion yuan, injecting fresh liquidity into the real economy through financial opening‑up. The People's Government of Hainan Province has set a GDP growth target of around 6% for 2026, while key indicators such as industrial value-added above designated size, service imports and exports, and actual use of foreign capital are already among the fastest growing in China. The free trade port's policy orientation is evolving from "facilitation" to "value creation", providing sustainable endogenous momentum for high‑quality development.

From "China's gateway" to "Global pivot": Building a new node in global free trade

Amid ongoing geopolitical tensions and profound restructuring of the global trading system, the Hainan Free Trade Port is poised to become a strategic hub connecting China's domestic market with global markets. The special customs operations have significantly enhanced Hainan's international connectivity: The province has established 92 overseas passenger air routes to 45 cities in 23 countries and regions, including Hong Kong and Macao. By February 28, 2026, Hainan had recorded 653,000 inbound and outbound passenger trips through its international ports of entry and exit, up 35.1% year on year, while visa‑free entries grew 53.7% to 158,000. 

What's more, Hainan has established trade relations with more than 220 countries and regions, and export growth to ASEAN, African, and Latin American markets has expanded substantially, diversifying its foreign trade markets. Against the backdrop of full implementation of the Regional Comprehensive Economic Partnership and the development of the China‑ASEAN Free Trade Area 3.0, Hainan's role as a "springboard" into global markets, supported by zero‑tariff policies and rules of origin, is becoming ever more prominent, enhancing its position in the global trade network.

From "single-point breakthrough" to "regional coordination": Driving regional integrated development

The strategic value of the Hainan Free Trade Port lies not only in "single-point breakthroughs" but also in driving regional economic cooperation and industrial upgrading through coordinated integration. The cooperation between the Hainan Free Trade Port and the Guangdong‑Hong Kong‑Macao Greater Bay Area has become a flagship example of major national development strategies in action. In 2025, actual investment from Hong Kong in Hainan reached 18.4 billion yuan, up 21.5% year on year. The Guangdong–Hainan Advanced Manufacturing Cooperation Industrial Park has launched 47 projects, and an integrated model of industry and supply chain with "Hainan policy resources, Guangdong manufacturing, and Hong Kong services" as the core is taking shape.

With institutional innovation dividends fueling progress, the Hainan Free Trade Port contributes to upgrading industrial chains regionally and nationwide, enhancing its role in serving the country's strategic agenda and becoming a new engine of regional integrated development.