HAIKOU /China/, October 31. /TASS/. The resort city of Sanya, located on the coast of south China’s Hainan Province, has recently been expanding its network of global partners to develop free trade relations, Sanya Daily newspaper reported.
According to the newspaper, the Sanya Central Business District Administration signed a memorandum of understanding with Italy’s Western Ligurian Sea Port Authority in an online ceremony last week, expressing their intention to strengthen ties through joint projects. The agreement brought the number of Hainan’s global free trade partners to 46, accelerating the island’s efforts to increase its openness to other countries and regions.
The cooperation with Italy will focus on areas including cruise and yacht transportation, maritime logistics, the exchange of corporate expertise, and foreign trade. One of the key objectives is to strengthen and expand Hainan’s supply chains in line with advanced international standards.
According to an official assessment, the southernmost Chinese province’s cooperation network is increasingly extending across Southeast Asia, the Middle East, and European markets. The recently concluded agreements are expected to deepen cooperation between Hainan and Italy in port construction, the development of the cruise and yacht industries, as well as international logistics.
The newspaper’s authors emphasized that such partnerships are “in particularly high demand for the modernization of the maritime industry.” The publication noted that Sanya has more than 1,000 berths and 1,400 registered yachts, with the latter figure continuing to rise, partly thanks to various international exhibitions held on the island and the elimination of import duties on recreational vessels. Another important incentive for the development of this segment of the economy has been an increase in the maximum permitted passenger capacity of yachts to 26 people. Cross-border cruise routes also play an equally important role for the city, the newspaper stressed.
The Sanya Central Business District Administration said local authorities would continue strengthening international ties, expanding channels of cooperation with European countries, and broadening the global partnership network aimed at promoting free trade.
