Recently, the container liner COSCO Shipping “CONTSHIP HUB”, after loading, sailed from the duty-free port of Yangpu in Hainan, and after 6 days arrived in Singapore via Vietnam. Since the opening of the Yangpu-ASEAN (Singapore) route at the end of December last year, as of the end of June 2019, the Yangpu-Port-ASEAN route carried out a total of 59 flights, sending a total of 15,500 standard containers (TEU) of external goods trade, an increase of 256%. At the same time, the development of container traffic in the port of Yangpu also showed good momentum: in the first half of this year, the container capacity was 307,400 TEU, which is 15.03% more.
As the closest deep-water port of Beibu Bay to the international main route, the duty-free port of Yangpu in Hainan is a true image of the accelerated development of the open economy of Hainan. According to Haikou customs statistics, in the first half of 2019, Hainan's foreign trade imports and exports amounted to 45.56 billion yuan, which accounted for 0.3% of the country's total imports and exports, increasing by 45.6% year-on-year, and growth rates were 41.7 percentage points higher than in the country as a whole over the same period.
The Hainan Island Oil Refinery, located in the Yangpu Economic Development Zone, is one of the main channels for the Sinopec Group to export petroleum products, and is also the leading foreign trade enterprise in Hainan. In the first half of the year, refined oil exports to Hainan increased by 3.78 billion yuan, compared with the same period last year, which accounted for 26.5% of Hainan’s foreign trade growth over the same period. In addition, in the Yangpu Development Zone, there was an increase in capacity by 50% for PET projects of the Hainan Petrochemical Company Isheng Ltd., Creation of a LNG bonded warehouse, and the petrochemical industry Yangpu Handi and Hainan Huasheng New Materials Technology LLC.
Due to the increase in the number of projects, Hainan’s total foreign trade increased by 2.53 billion yuan, representing a 17.7% increase in Hainan’s foreign trade over the same period.
The relevant person in charge of the Haikou Customs Statistics Analysis Department said that in the first half of 2019, Hainan Province's foreign trade was maintained at relatively high growth rates, which were much higher than the average for China over the same period. Due to the sustainable development of the Hainan Free Trade Zone and the Free Trade Port, it is expected that it will maintain steady growth throughout 2019.
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