Since the release of the Master Plan for the Construction of Hainan Free Trade Port in 2020, Hainan has bridged numerous achievements in promoting its transformation into an international shipping and aviation hub of the New International Land-Sea Trade Corridor.

With the accelerated implementation of Hainan Free Trade Port policies and the increase of routes in Hainan, the cargo volume of Yangpu Port has been breaking new highs year after year. In 2023, the cargo throughput of Yangpu Port reached 58.0356 million tons, an increase of 8.56% over 2022, whereas container throughput was up 3.75%, reaching 1,833,500 TEU (Twenty-foot Equivalent Units).

The growth in foreign trade container volume has been significant. In 2023, with a year-on-year increase of 13.86%, 473,200 TEU completed. In particular, after the container throughput exceeded one million TEU for the first time in 2020, from 2020 to 2022, the average growth rate exceeded 30%, and the growth rate ranked first in China each year.

To meet the needs of shipping development, Yangpu Port broke ground on the its regional international container hub port expansion project ahead of time in 2023, integrating the dozen or so existing wharfs and 51 berths. It also started the construction on the port’s waterway expansion project in 2024.

The construction site of Yangpu Regional International Container Hub Port Extension Project. (Photo: CCCC Fourth Harbor Engineering CO., LTD)

Yangpu Port’s cargo volume growth has become a draw for shipping companies and routes, with increasing numbers choosing the port as a transit point or terminus. In 2022, the total number of shipping market entities doubled compared with 2020. By 2023, as many as 882 shipping logistics market entities had set up operations in the port area.

Behind the rapid development of Yangpu Port lies the accelerated construction of the Hainan FTP and accelerated implementation of various special FTP policies such as the dual 15% caps on individual and corporate income tax. The port’s geographical advantages and tailored shipping policies are also major factors in its development.

The Danzhou-Yangpu Economic Circle, with the "Yangpu Port of China" port of registry policy at its core, has explored and fostered more than 10 institutional innovations focusing on the liberalization and facilitation of transportation and the international ship registration landing and supervision services.

As long as they are eligible, shipping enterprises that register their ships at the "Yangpu Port of China" can take advantage of the Hainan FTP and Yangpu Economic Development Zone’s overlapping policies when purchasing, registering, and operating ships.

Up to now, a total of 46 international ships with a combined deadweight tons of more than 5.31 million have registered at "Yangpu Port of China," ranking second in China.

"Tax rebates at the port of departure", "allowing ships carrying both domestic and foreign trade goods to refuel with bonded fuel", and other policies at Yangpu Port provide a strong policy "momentum" for the port’s rapid development.

A plane comes in to land at Haikou Meilan International Airport. (Photo: Haikou Meilan International Airport)

In addition, the construction of a regional aviation hub at Haikou’s Meilan International Airport has accelerated, with the airport’s business scale currently in a leading position among domestic regional hubs. From January to May 2024, passenger throughput at the airport reached about 12.74 million people, a year-on-year increase of 23.6%, while cargo and mail throughput reached 100,600 tons for a 30.1% increase over last year. Both figures represent the airport’s best performance to date.

At present, Hainan has launched a total of 51 overseas passenger and cargo routes. Of the 47 passenger routes, 44 are currently operating, covering 18 countries and regions and linking Hainan to 27 cities including Hong Kong, Macao, Seoul, Hanoi, Phnom Penh, Bangkok, Kuala Lumpur, Jakarta, Sydney, Melbourne, London, Almaty, Astana, Ulaanbaatar, and Busan. The four cargo routes, which operate out of Haikou, cover 5 countries, connecting 5 cities including Seoul, Paris, Singapore, Bournemouth, and Vienna.

In March 2024, the Department of Transport of Hainan Province and the Department of Finance of Hainan Province issued incentive measures to promote the development of air cargo.