The prosperity degree of Hainan province is probably to exceed world-recognized free trade port examples of Singapore, Dubai and Hong Kong, according to a report released by the Latin American News Agency on May 3.
Hainan and Hong Kong have decided to cooperate in 10 fields for a win-win result and further promotion of reform and opening up, according to the Hainan Development and Reform Commission.
Chinese conglomerate HNA has cut its stake in Deutsche Bank to 7.9 percent, according to a US regulatory filing.
Offshore duty-free shops on the island province of Hainan have sold more than 37.5 billion yuan ($5.95 billion) of goods over the past seven years, Haikou customs announced Saturday.
The development of Hainan into an international free-trade port heralds a new stage of the reform and opening-up of the Chinese economy as the island boasts the potential to compete with other international ports such as Hong Kong and Singapore, experts said on Monday.
The grand plan to build Hainan into an international free-trade zone will not only boost South China's development, but also catalyze economic growth in the Asia-Pacific region and the rest of the world, said one of the nation's top experts in international trade.
Share prices of Hainan-related companies rallied on Monday in response to President Xi Jinping's speech on Friday supporting the building of the whole island into a pilot free trade zone and a free port with Chinese characteristics.
Overview
Haikou 
Sanya 
