New law set to enhance free trade in Hainan port

China has enacted the Hainan Free Trade Port Law as part of its ongoing efforts to develop a globally influential free trade port in the country's southern Hainan province.

The law was adopted on Thursday by the Standing Committee of the 13th National People's Congress, China's top legislature, providing the country a legal guarantee in pursuit of building a high-quality free trade port in Hainan island. The new law takes effect immediately.

The central authorities released a master plan last June that set out a series of measures supporting the construction of the Hainan FTP. The newly enacted law marks a key move to turn policy incentives into legislative reality.