What does a free trade port mean?
The free trade port is an upgraded version of the free trade zone, that is, it is the product of further reform and opening up from the original free trade zone. In a free trade port, goods, capital and people can not only enter and leave freely, but also most goods are exempt from customs duties. Compared with free trade zones, free trade ports are expected to make new breakthroughs in border liberalization, realize unrestricted customs declaration, tax payment and entrepot trade, and become the center of global trade hubs, such as international free trade ports in Hong Kong and Singapore.
For Hainan, the construction of free trade port has also played some new substitution roles, that is, the deep development of the whole South Asia. Of course, free trade ports are not only limited to the trade of goods and capital, but also pay attention to the fields of service trade, culture, education, agriculture, tourism and health. For Hainan Free Trade Port, there are many tourist attractions, so its development will be broader.
To sum up, this is the meaning of a free trade port.