Online Reporter
Kuda Bwititi in Hainan province, China
Zimbabwean businesses, particularly in agriculture, mining and technology, are poised to gain unprecedented access to the vast Chinese market following the announcement of a major new free trade policy in China’s Hainan province.
In a significant development for global trade, Mr Wang Bin, head of the Hainan Publicity Department confirmed on Monday that the island-wide special customs operations for the Hainan Free Trade Port (FTP) will officially commence on December 18, 2025. This initiative, approved by the Central Committee of the Communist Party of China, is designed to implement more open policies and create a freer channel for international exchange.
For Zimbabwe, a key partner in China’s Global South strategy, this presents a tangible opportunity to deepen trade and investment ties beyond traditional channels.
“The doors of the Hainan FTP are open and will always be open to the Global South,” Mr Wang said.
Directly addressing nations like Zimbabwe, he added: “Here, you will find supportive policies, a vast market, and great opportunities for co-operation.”
The economic potential is underscored by Hainan’s recent growth. Mr Wang revealed that the province’s total foreign trade surged from 93,33 billion yuan in 2020 to 277,89 billion yuan in 2024, with paid-up foreign capital reaching 166,7 billion yuan over four years. Investors from 176 countries are now established there.
Crucially for Zimbabwean exporters, the FTP’s special customs model will allow “most imported goods, equipment and raw materials to benefit from zero tariffs.” This could significantly reduce the cost of bringing Zimbabwean citrus, tobacco, and lithium-based products into the high-consumption Hainan market and, through it, into mainland China.
Furthermore, the port offers a “dual 15 percent cap” on corporate and individual income tax for eligible enterprises and talent, a policy Mr Wang said could “reduce operating costs for Global South enterprises by nearly 20 percent”.
This creates a compelling case for Zimbabwean companies to establish a regional headquarters or logistics hub on the island.
Hainan is also a hub for technological innovation and there is potential for the tech sector to collaborate, attract investment and gain from knowledge transfer.
The province has also made strides in streamlining business, establishing a one-stop international commercial dispute resolution mechanism, which can provide confidence for Zimbabwean firms navigating complex international contracts.
Officials in Hainan said the province is positioned to become a crucial gateway for China’s new era of opening-up with preparations for the launch of the FTP progressing smoothly.
