US EditionChina Sells the World on Its Duty-Free Island, Amid a $1 Trillion Trade Surplus
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3 Articles
Hainan is known mainly for its beaches: now China wants to transform it into a commercial power
China Sells the World on Its Duty-Free Island, Amid a $1 Trillion Trade Surplus
With tariffs rising around the world and President Trump vowing an end to decades of globalization, China’s leadership is trumpeting a tropical island as proof that it is moving in the opposite direction. The island of Hainan — a province of China off the country’s southern coast 50 times the size of Singapore — last month scrapped tariffs on most imports, slashed corporate and individual taxes and declared itself the world’s largest “free trade…
While Trump's policy tends toward focusing on the US and piling difficulties on globalization, China has eliminated most tariffs on the vast island of Hainan. President Xi: "A significant gateway leading China's opening up in the new era"
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