Beijing wants to turn the ‘Chinese Hawaii’ into a trade hub to rival Hong Kong
China has unveiled plans to turn its southern island of Hainan into the mainland’s answer to Hong Kong or Singapore, as it tries to dampen the risk of decoupling with the United States. Beijing on Monday outlined a package of special policies to make the tropical island a free-trade port by lowering the income tax rate for selected individuals and companies, scrapping import duties and relaxing visa requirements for tourists and business travelers. The island province of 9.5 million people will also enjoy freedoms in terms of trade, investment and the movement of people and data, according to the plans. The project to create a regional trade, shopping and shipping center in Hainan – which at