China has transformed Hainan into the world's largest free trade port, with a unique two-line customs system, lower taxes, and relaxed regulations to boost its global economic influence and serve as a strategic gateway to Asia-Pacific markets, contrasting with global protectionism.
China has launched a $113 billion free-trade experiment on Hainan island, transforming it into a duty-free zone to attract foreign investment, boost trade, and establish a Hong Kong-style commercial hub, as part of its efforts to join the CPTPP and diversify its economy amid trade tensions and economic slowdown.
A Chinese coast guard ship involved in a collision in the South China Sea is now under repair at Hainan Island, confirmed by satellite images showing the damaged vessel at a naval base, amid ongoing tensions over territorial disputes and international rulings.
Schools and the stock market in Hong Kong were closed as Typhoon Talim approached the Chinese mainland and the island province of Hainan. Safety alerts were issued, urging residents and tourists to stay in safe places away from possible floods or landslides. The typhoon caused the evacuation of workers from offshore facilities and led to the suspension of classes and public transport in Macao. As Talim moved away from Hong Kong, it was forecasted to make landfall in Guangdong and Hainan provinces before striking land again in the Guangxi region. The typhoon is expected to weaken in Vietnam.