China to allocate 3.5 bln yuan for building Hainan FTP

Added On June 24, 2020

According to the National Development and Reform Commission or NDRC, the fund will be used for infrastructure construction and public services improvements of the free trade port. Targeted support will be offered to long-term projects. Earlier this month, Chinese authorities released a master plan for the Hainan free trade port. It aims to build the southern island province into a globally-influential, high-level free trade port by the middle of the century. According to the plan, a free trade port system, focusing on trade and investment liberalization and facilitation, will be "basically established" in Hainan by 2025, and become "more mature" by 2035.