As the Hainan Free Trade Port prepares to launch island-wide special customs operations on Dec 18, enterprises from Zhejiang province are ready to secure an early foothold for their global expansion.

A key entry point has been the Zhejiang-Hainan Cooperation Industrial Park in Chengmai county, Hainan province, an interprovincial cooperation initiative that has attracted more than 200 companies since its establishment in 2024.

Many Zhejiang firms see the park as their initial base in Hainan, with planned clusters spanning cross-border e-commerce, artificial intelligence, oilfield services, and the automotive sector.

Hangzhou Dream Technology, a cross-border e-commerce company with years of overseas experience, has made Chengmai its core base in Hainan. The company is building what it describes as a digital bridge linking Chinese industrial clusters with global consumers.

From Dec 18, the special customs operations will raise the share of zero-tariff products in the Hainan Free Trade Port from 21 percent to 74 percent, while further opening tourism, modern services, and high-tech industries.

Opportunities for Zhejiang

Lu Jing, head of the Department of International Economics and Trade at Zhejiang University's School of Economics, said Hainan offers one of the country's shortest negative lists for cross-border trade in services, with breakthrough opening-up in finance, shipping, professional services, and data-related sectors. This creates major opportunities for Zhejiang's service trade companies.

For digital service providers based in Zhejiang, Hainan is piloting orderly cross-border data flows and service delivery, allowing qualified firms to offer cross-border cloud services, telemedicine services, and online education.

Zhejiang's strengths in cross-border e-commerce, digital content, and the industrial internet can be paired with Hainan's open service trade platform, Lu added.

Private high-end professional service firms are also set to benefit. As Hainan opens sectors such as legal services, accounting, and architectural design, Zhejiang-based consultancies, law firms, and certification companies are expected to establish regional headquarters on the island and take on overseas projects.