Beijing’s plans for China’s southerly island province to become a thriving free trade zone and hub for foreign investment are falling short of expectations.
The CDF Sanya International Duty Free Shopping Complex in Sanya, Hainan. Credit: DreamArchitect via Shutterstock
Hainan, China’s southernmost province, is famous for its sandy beaches and tropical scenery. Six years ago, the so-called “Hawaii of China” drew extra attention as the focus of one of Xi Jinping’s flagship economic growth efforts.
The Sanya Agile Clearwater Bay Marina in Hainan hosts 780 yacht berths. Credit: NDA Group
China’s leader announced plans in 2018 to make Hainan into the country’s largest free trade zone, with low barriers to foreign investment in sectors from f
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