Hainan boosts foreign economic activity after the easing of anti-COVID measures — media

Businesses in the southern Chinese province of Hainan have noticeably stepped up their foreign trade activities after the easing of anti-COVID restrictions in China, strengthening their position in the global market. That's according to a report by Hainan Daily.

The newspaper's journalists interviewed representatives of the local business community and reported that Hainan entrepreneurs confirm the increase in the number of orders for the production of goods and provision of services. In this regard, the province has increased not only the high-demand exports of tropical agricultural products, but also a wide range of trade products with high added value, such as 'green' cars using state-of-the-art technological solutions, according to the newspaper.

Lu Guogang, general manager of the Hainan division of automaker Haima Motor, told the newspaper that his company plans to step up operations outside of China in the near future. "Last year we increased production and sales by 67% to around 23,000 cars. At the same time, we have pursued a more dynamic strategy in foreign markets and are constantly working to raise the profile of our brand," Lu Guogang said.

Lu also specified that in 2022 the Hainan-based division of Haima Motor exported cars of four models, which cost 1.7 billion yuan (about $248 million at the current exchange rate).

The newspaper also reports an increase in flights from the island's two main airports, Meilan and Phoenix. After China announced earlier this year that it would lift its strict quarantine regime at the border, Hainan's free trade port increased its fruit exports by air to a number of destinations including Canada. Moreover, the province has significantly increased its seafood imports, which had previously been hampered by the pandemic. In particular, Hainan has significantly increased its purchases of shrimp from Thailand for breeding.

It is expected that with the growth of trade turnover, Hainan customs will continue to optimize border controls and create a convenient environment for foreign trade companies. In addition, as noted, the provincial Department of Commerce will help reduce costs, explore new opportunities and create a more business-friendly environment.