At the Boao Forum for Asia (BFA) Annual Conference 2025, over 1,000 delegates from more than 60 countries and regions convened to discuss openness and investment in the Hainan Free Trade Port (FTP) on the Chinese island of Hainan — with Nordic voices also among the contributors.
One such voice was Carl F. Fey, professor of strategy at BI Norwegian Business School, who underscored the economic potential of Hainan’s island-wide zero-tariff policy.
“The FTP’s independent customs operations will significantly reduce costs for businesses,” says Professor Fey, noting that the policy represents a meaningful step toward making China more accessible for international firms.
His remarks echoed the broader theme of the forum: positioning Hainan as a gateway for global investment and cooperation, particularly with the Global South.
According to Hainan officials, the province is streamlining procedures for foreign businesses and individuals, with Wang Xuehao, deputy head of the Hainan Provincial Department of Business Environment Development, announcing several new opening-up measures to attract international investors.
Swire Coca-Cola, which has operated in Hainan for 36 years, was cited as a long-term foreign investor already benefiting from incentives such as the “double 15 percent” tax policy.
By the end of 2024, Hainan had nearly 10,000 foreign-funded enterprises, with the majority established after the launch of the FTP. The number of foreign regions with a business presence in the province has grown from 43 to over 170.
The province is now preparing a series of major initiatives aimed at advancing cross-border cooperation and accelerating economic integration.
Original source: Xinhua Silk Road
