ABSTRACT
A free trade port refers to a port area that is located outside the borders of the country or territory and a customs jurisdiction, allowing the free movement of goods and funds from abroad. Free trade ports (FTP) enjoy corresponding free trade policy systems and a high degree of openness. FTPs require a relatively high-level of socioeconomic development and governance. FTPs are more than just special areas with favourable policies. FTPs adopt international standards to ensure the free flow of goods, human resources, capital and investment and receive support from new rules and regulations they are regarded as upgraded free trade pilot zones. Establishing free trade pilot zones and FTPs in Hainan is an important systemic attempt for China to explore deepening reform and opening up in an all-around way. As vital carriers for opening up the service industry, Hainan Free Trade Pilot Zone and the FTP facilitates transforming and upgrading structure for the Chinese economy and foreign trade.
