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Hainan issues plan for modern circulation system construction

ehainan.gov.cn | Updated: 2022-06-20

Hainan province recently issued an implementation plan for the construction of Hainan's modern circulation system in the 14th Five-Year Plan period (2021-25), which will also help cultivate and expand modern circulation enterprises. 

By 2025, the province will strive for the added value of the modern logistics industry to reach 35.3 billion yuan ($5.3 billion), and the total revenue of the logistics industry to reach 130 billion yuan. The distribution of the province's circulation infrastructure will be further improved, new business forms and new models in the circulation field will be grown, while the modern circulation system's ability and level of serving the Hainan Free Trade Port and connecting the international market will be improved.

By 2035, the province's total logistics industry revenue will reach 320 billion yuan, according to the plan, while the modern circulation system will be completed.

The implementation plan emphasizes that Hainan will encourage offshore duty-free business entities, promote the integration of duty-free shopping and tourism consumption, as well as guide qualified cities and counties to issue incentive policies.

Hainan will also speed up the development of a modern logistics system. During the 14th Five-Year Plan period, Hainan will accelerate the opening of international routes and build a 24-hour globally accessible air cargo service system.

In addition, the province will also enhance its transportation infrastructure, which will bolster circulation. Projects like the Haikou section of the G15 Shenyang-Haikou Expressway and the G98 Hainan Island Ring Expressway will be completed.


A busy scene at Yangpu Port. [Photo/Hainan Daily]