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Big changes are underway in Hainan—and they’re designed to make everyday life smoother for residents, expats, and businesses alike. China's Hainan Free Trade Port will officially launch island-wide independent customs operation on December 18, 2025, completing its transition into a full-fledged Free Trade Port.
In April 2018, China announced plans to transform the island into a pilot free trade zone, with a long-term vision of developing a free trade port with Chinese characteristics. A master plan released in 2020 aimed to make Hainan a globally influential hub for high-level openness by mid-century.
Wang Yang publishes an official definition of a free port in the People’s Daily. Announcement of a free trade zone covering the entire island of Hainan during the 30th anniversary of the Special Economic Zone. Launch of the Master Plan for the construction of the Hainan Free Port, aiming for global status by 2050.
The "Notice on Preferential Corporate Income Tax Policies for Hainan Free Trade Port" proposed that enterprises in encouraged industries registered and operated in Hainan Free Trade Port shall be subject to a reduced corporate income tax rate of 15%.
Honduras’s power grid is extensively developed in all departments except the easternmost department, Gracias a Dios. Honduras has granted distribution concessions to 7 utilities nationwide, with the state-owned Empresa Nacional de Energía Eléctrica (ENEE) managing nearly 99% of the electricity grid. electricity. lowest electricity access rates.
Most recently, Honduras has acquired a loan for US $29.4 million to build a 51.1 MWp solar PV plant. Secretariat of Energy (SEN) is the primary government body responsible for overseeing the energy sector in Honduras.
In Honduras, there is a large potential for electricity generation based on hydropower. In 2003 then President Ricardo Maduro put in place a Special Commission for the Development of Hydroelectric Projects. There are 16 new hydro projects that are expected to be commissioned before 2011, with an overall capacity of 206.5 MW.
Solar photovoltaic (PV) energy followed at 18.9%, with wind power at 12.9%, and geothermal energy at 5.8%. Due to the diversity of the Honduran landscape, the potential for wind development varies considerably.
On June 10, 2021, the 29th meeting of the Standing Committee of the 13th National People's Congress passed the Hainan Free Trade Port Law of the People's Republic of China, which determined to establish and improve the Hainan Free Trade Port customs supervision special zone system with closed-off customs operations on the entire island.
"With the independent customs operations, Hainan FTP is poised to become a key gateway for China's new era of opening up and innovation," Cai added. China's Hainan Free Trade Port (FTP) is set to launch an island-wide independent customs operation on Dec. 18, 2025, underscoring the country's wider push for high-standard opening up.
A number of policies introduced in the Hainan FTP have been effectively implemented, focusing on the areas of "zero tariffs, low tax rates and a simple tax system," as well as the free and convenient flow of factors such as goods, capital and personnel.
Looking ahead, the Hainan FTP will prioritize promoting the free and efficient flow of key production factors, including trade, investment, cross-border capital, personnel and logistics, alongside the secure and orderly movement of data, according to Cai.
