A sales representative showcases Brazilian coffee products at the Brazil Pavilion during the China International Consumer Products Expo in Haikou, South China's Hainan Province on April 16, 2025. Photo: Zhang Weilan/GT

In the vast hangar of the Hainan Free Trade Port (FTP), South China's Hainan Province, aircraft of various sizes undergo operations including landing gear replacement, engine maintenance and fuselage painting. Outside, on the apron, aircraft from international carriers such as Mongolia, Vietnam and the Netherlands are parked in an orderly manner, waiting for repairs. 

This is the daily scene at the one-stop aircraft maintenance industrial base in the FTP, a facility that has quickly become a global hub for aviation maintenance. The bonded maintenance services offered at the base have transformed the hangars into a global aircraft ''4S store,'' Wang Haiye, director and general manager of the aircraft maintenance industrial base, told the Global Times.

Located in the Haikou Airport Comprehensive Bonded Zone and covering an area of 148,000 square meters, the base began operations in March 2022, with a total investment of 1.617 billion yuan ($240 million). According to Wang, it is the only facility on the Chinese mainland authorized by General Electric at the highest level to service Boeing 787 GEnx-1B engines.

Under the FTP's tax-free policies, incoming aircraft are exempt from guarantee deposits. Additionally, temporary entry for repairs, bonded maintenance materials and zero tariffs on imported equipment collectively reduce maintenance costs by 10-15 percent for clients, Wang explained.

Wang noted that in 2024, a total of 49 aircraft and 16 engines underwent bonded maintenance at the base, with a combined value of 31.13 billion yuan, representing a year-on-year increase of 3.3 times.

The FTP's preferential tax policies have greatly enhanced Hainan's global competitiveness. And, the aircraft maintenance sector is not the only beneficiary. 

The province is also expanding its yachting economy. In recent years, the city of Sanya has enhanced its maritime appeal by upgrading port infrastructure and diversifying services, including rentals, sales and event hosting of yachts. The city has also fostered niche markets such as yacht wedding photography and educational boating tours. 

Efforts to reduce entry barriers have fueled the growth of the hybrid marine sectors. Official data showed that as of the end of 2024, Sanya was home to a registered yacht fleet exceeding 1,400 vessels, with more than 127,900 yacht departures.

Investment hotspot

Hainan has emerged as a major investment hub, attracting a surge in foreign capital. The island is now moving full speed ahead to establish an FTP by the end of 2025.

Official data showed that since April 2018, newly registered businesses in Hainan have outnumbered the total from the past 30 years, with newly established foreign firms growing at an annual rate of 57 percent, signalling a strong vote of confidence from international investors.

The just-concluded China International Consumer Products Expo has become a key platform for Hainan to build an international tourism and consumption center, while advancing its FTP development. More enterprises are exploring new business opportunities, Huang said.

At the expo, global investors and foreign participants praised Hainan's commitment to fostering a favorable business environment. Combined with its strategic location, this has positioned Hainan as a prime destination for foreign investment.

"The expo has become a shining 'business card' for China's openness," said Jack Chan, the chairman of EY China. He noted that the expo serves as a strategic gateway for global enterprises seeking to enter the vast Chinese market.

In Hainan, rockets soar amid coconut groves and sunshine while AI robots dance with ocean waves, blending romance with technology, Inty Mendoza, chief representative officer at Invest SP, Investment Promotion Agency of São Paulo state, Brazil, told the Global Times. 

"The Chinese market is full of opportunities. I always have confidence in the Chinese market, and I hope to use the expo to strengthen cooperation and exchanges further and better meet the demands of Chinese consumers," Mendoza noted.

French wine dealer Ramel Francois Felix, while making his fifth appearance at the expo, also expressed confidence in the resilience of the Chinese market. For Felix, the expo is a vital opportunity to expand market reach and drive business growth in Hainan. 

Amid the ongoing challenges of US-imposed tariffs and global trade disputes, the holding of the CICPE and the favorable policies in the Hainan FTP once again demonstrates China's determination to instill more confidence to foreign-funded enterprises, Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Sunday.

Hainan's distinctive tourism resources, combined with the policy dividends from the FTP, will ensure the island's service sector sails steadily ahead, Li added.

The 5th CICPE was held from April 13 to 18 in Hainan. The event significantly redirected the FTP's traffic and population flow to spur economic activity, Huang Cui, a deputy director-general of the Hainan Provincial Bureau of International Economic Development, told the Global Times during the expo.

With the participation of more than 4,100 brands from 71 countries and regions, the event has become a major platform for global trade and consumption trends. It not only showcases a wide array of consumer products but also highlights cutting-edge sectors such as artificial intelligence, low-altitude aviation, smart vehicles and digital health, according to Huang.

The policy system of the FTP, underpinned by features like zero tariffs, low tax rates and simplified tax systems, as well as a policy framework centered on free and convenient trade, investment, cross-border capital flows, personnel mobility and transportation, and the safe and orderly flow of data, are reshaping the area and driving it toward becoming an international FTP, said Feng Fei, secretary of the Communist Party of China Hainan Provincial Committee.