HAIKOU, June 25. /TASS/. A presentation on the investment potential of the free trade port in the southern Chinese province of Hainan, held as part of the 4th China International Supply Chain Expo (CISCE), brought together about 600 representatives from foreign governments, diplomatic corps, businesses, and international companies, the Hainan Ribao newspaper reported.
Official delegations and representatives of trade and industry associations from Nicaragua, Italy, Lebanon, Senegal, Panama, Uruguay, Togo, and other countries attended the event, as well as representatives of Chinese and international companies, including China Unicom, China Telecom, Charoen Pokphand Group, and Sanofi.
The presentation primarily focused on the initial results of the free trade port’s operations following the implementation of a special customs regime across the entire island. According to the organizers, the average time required for customs clearance of imported goods has decreased by 20%, and the amount of information required to declare goods for export to the rest of China has been reduced by more than 60%.
As of May 31, 172,100 new business entities had been registered in the province, which is a 61.07% increase compared to the same period last year. The authorities noted that these figures indicate growing business interest in the free trade port's opportunities.
