The “Global Free Trade Port Development Forum,” held on March 24 as part of the 2026 Boao Forum for Asia Annual Conference in Hainan, showcased the island province's evolving role in international trade and investment. This was the first major forum since Hainan implemented full-island operational measures in December 2025.

High-level participants included Mu Hong, Vice Chairman of China's 14th CPPCC and Boao Forum China Chief Representative; John Lee, Chief Executive of Hong Kong; and Feng Fei, Secretary of Hainan Provincial Party Committee. Discussions focused on enhancing trade, investment, and infrastructure cooperation among global free trade ports.

Mu Hong outlined five key areas for collaboration: supporting multilateral trade frameworks, deepening industrial chain integration, improving connectivity, promoting sustainable growth, and strengthening coordination mechanisms. Feng Fei proposed initiatives to align regulations, expand trade and investment opportunities, and establish platforms for international exchange. John Lee highlighted the potential synergy between Hong Kong and Hainan in driving cross-border trade and investment.

During the forum, several agreements were signed to formalize international partnerships:

• Provincial-level cooperation: Hainan signed a memorandum of understanding with Spain’s Catalonia region to establish high-level collaboration.

• Industrial park collaboration: Haikou National High-Tech Zone entered into a partnership with Mongolia’s Khushig Valley Free Economic Zone, supporting industrial integration and project cooperation.

• Port and logistics partnerships: Hainan Port & Shipping Holdings Co. signed an agreement with the UAE’s Ras Al Khaimah Port to strengthen international logistics connectivity.

Delegations from Russia, Turkey, and Sri Lanka conducted on-site visits to Hainan’s industrial parks to explore investment opportunities and follow-up projects. International experts, including former Singapore Foreign Minister George Yeo and economist Cao Yuanzheng, assessed Hainan’s strategic potential as a regional trade hub linking China with ASEAN economies.

Analysts noted opportunities for Hainan to collaborate with Hong Kong on cross-border RMB use, financial services for regional infrastructure, and other pilot initiatives that could position the island as a regional financial and investment center. Early economic data from the first 100 days of full-island operations indicates a positive impact on trade and investment flows.

The forum reflects Hainan Free Trade Port’s efforts to integrate into global trade networks, offering an emerging platform for cross-border collaboration, investment, and market development.