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Hainan FTP business environment optimization boosts shipping industry

Updated: ehainan.gov.cn

Thanks to the policy dividends of the Hainan Free Trade Port (FTP) and the optimization of the maritime business environment, the number of international ship registrations in the Hainan province has grown rapidly, and the shipping industry has displayed an accelerated development trend.

Since June 2020, more than 90 shipping companies have gathered in China's Yangpu Port, many of which are wholly foreign-owned enterprises, according to the Hainan Maritime Safety Administration. A total of 20 zero-tariff imported ships have been registered in Hainan including 13 transport ships and seven yachts.

In addition, there are 30 newly registered or transferred ships in Yangpu Port, and the newly added international ship capacity is about 4.83 million metric tons of deadweight, accounting for one third of the country's newly increased international ship capacity, which directly drives Hainan's GDP of 5 billion yuan ($782 million).

Gao Lei, a staff member of the Hainan Maritime Safety Administration, introduced that the maritime department reduced the time limit for handling a single item from seven days to one day through online acceptance, simplification of procedures, and optimization of items, which enables ships to be put into operation 15 days in advance, and helps each ship save more than 600,000 yuan in shutdown losses.





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