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With a zero-tariff system fundamentally in place after the independent customs operation, high-quality global resources can flow into Hainan with greater freedom and efficiency, Wu said. Trade liberalization and facilitation are defining features of a free trade port.
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.
As a key initiative in China's opening-up strategy, the Hainan Free Trade Port is set to begin independent customs operations by year end, and global enterprises are eyeing the vast opportunities that come with open trade. [Photo/Xinhua]
South China’s tropical island province of Hainan is intensifying efforts to establish itself as a high-level free trade port (FTP) by 2025. Key plans were outlined in a government work report presented during the annual session of the Hainan Provincial People’s Congress on Tuesday.
"We will strive to build the Hainan Free Trade Port into an important gateway leading China's opening up in the new era, contributing to the sustained development of the Chinese economy as well as injecting stability and certainty into the world economy," said Yuan, assistant minister of commerce. ■
"With the independent customs operations, Hainan FTP is poised to become a key gateway for China's new era of opening up and innovation," Cai added. China's Hainan Free Trade Port (FTP) is set to launch an island-wide independent customs operation on Dec. 18, 2025, underscoring the country's wider push for high-standard opening up.
With a zero-tariff system fundamentally in place after the independent customs operation, high-quality global resources can flow into Hainan with greater freedom and efficiency, Wu said. Trade liberalization and facilitation are defining features of a free trade port.
The Ministry of Commerce will make more efforts to support Hainan in aligning with high-standard international economic and trade rules, enhancing institutional openness, and fostering new growth drivers through targeted measures, Jiang said.
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Technical Assessment As of now, most of Iran’s wind turbines are installed in Qazvin and Razavi Khorasan provinces. However, wind power has good potential in other provinces such as East Azerbaijan, Ardabil, South Khorasan, and Sistan Baluchestan.
As a further drive toward diversification of energy sources, Iran has also established wind farms in several areas, this one near Manjeel. The energy system of Iran relies primarily on fossil fuels. However, the country has made steps to decrease its dependency on fossil fuels by investing in wind power.
Following the 1994 construction of Iran’s first wind power plant in Manjil in the Gilan province, the government’s policy has been to increase the participation of the private sector in the development of wind energy in the country. Most of Iran’s wind power plants have been constructed over the last decade.
The unique contribution of this study is that it provides a comprehensive country-wide technical analysis using hourly data of wind meters in all provinces of Iran. Moreover, this study provides a novel country-level financial analysis of wind power in Iran and suggests potential sources of financing wind energy in Iran sustainably.
