HONG KONG: Hainan’s transformation into a free-trade port will open new doors for trade between China and the Association of Southeast Asian Nations (Asean), but its success will require a leap of faith and pioneering spirit, experts said.
Beijing plans to turn the 35,000 square kilometre island into the world’s largest free-trade port by 2035, using lower taxes to attract investors, businesses and individuals, and looser visa requirements to lure foreign tourists and talent. It plans to have an independent customs regime in place by 2025.
Seated at the southernmost tip…
