Upon completion, the project will significantly enhance grid flexibility, ensure stable power system operations, and facilitate renewable energy integration. It will accelerate the
Many favorable policies have since been issued to support the development of the Hainan Free Trade Port (FTP), including the implementation of zero tariffs and the easing of
The energy storage project is currently the largest photovoltaic + energy storage project in Hainan Free Trade Port, and it is also the first photovoltaic project started in Wenchang City during the
This milestone represents more than just a technological breakthrough and comprehensive infrastructure upgrade for Hainan; it lays out a blueprint for island-scale power systems
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On June 10, 2021, the 29th meeting of the Standing Committee of the 13th National People's Congress passed the Hainan Free Trade Port Law of the People's Republic of China, which determined to establish and improve the Hainan Free Trade Port customs supervision special zone system with closed-off customs operations on the entire island.
The "Notice on Preferential Corporate Income Tax Policies for Hainan Free Trade Port" proposed that enterprises in encouraged industries registered and operated in Hainan Free Trade Port shall be subject to a reduced corporate income tax rate of 15%.
On November 20, 2022, the first foreign-invested enterprise cluster in Hainan Free Trade Port serving foreign-invested enterprises was unveiled in Qiongshan District, Haikou, and six foreign-invested enterprises signed letters of intent to move in at the same time.
On April 17, 2024, the port’s first direct container shipping route to the Middle East was launched, with its maiden voyage successfully completed on April 28, 2024. On May 6, 2024, the Administrative Measures for Multi-Functional Free Trade Accounts of the Hainan Free Trade Port came into effect.
