Fashion
Hainan free trade port crosses $11.6 bn trade in 100 days
Official data showed that 186 transactions were completed under the zero-tariff policy, covering goods worth nearly ¥1.7 billion (~$236 million), reflecting a 1.46-fold rise compared to the previous year. The policy also resulted in duty exemptions totalling ¥271 million (~$37.6 million).
The figures were released at a press conference held ahead of the 100-day milestone of the policy’s implementation.
Hainan Free Trade Port recorded trade exceeding ¥80 billion (~$11.6 billion) in its first 100 days of special customs operations, up 32.9 per cent YoY.
A total of 186 zero-tariff transactions were completed, covering goods worth ¥1.7 billion (~$236 million), while duties worth ¥271 million (~$37.6 million) were exempted, reflecting strong early momentum.
Launched on December 18, the island-wide special customs operations aim to facilitate smoother entry of overseas goods, expand the scope of zero-tariff items, and create a more business-friendly trade environment.
Positioned as the world’s largest free trade port by area, Hainan FTP is expected to play a strategic role in advancing China’s trade liberalisation and economic openness.
Fibre2Fashion News Desk (JP)
The scheme will contribute to the objectives of the Clean Industrial Deal to accelerate the decarbonisation of EU industry, the REPowerEU Plan to reduce dependence on Russian fossil fuels, as well as the EU Hydrogen Strategy, an official release said.
The European Commission has cleared a $1.5-billion German state aid scheme to produce renewable hydrogen through the European Hydrogen Bank’s ‘Auctions-as-a-Service’ tool for the auction that closed in 2026.
The scheme will contribute to the objectives of the Clean Industrial Deal, the REPowerEU Plan to reduce dependence on Russian fossil fuels, as well as the EU Hydrogen Strategy.
The approved scheme will support construction of up to 1,000 MW of installed electrolyser capacity, and the production of up to 10 million tonnes of renewable hydrogen. This is estimated to avoid up to 55 million tonnes of carbon dioxide.
The aid will be awarded through a competitive bidding process that will be supervised by the European Climate, Infrastructure, and Environment Executive Agency (CINEA).
The scheme will provide support to companies planning to construct new electrolysers feeding renewable hydrogen into the Danish Hydrogen Backbone 1 pipeline, which is a project of common interest, and deliver it to buyers connected to the German Hydrogen Core Network.
The aid will not only support the production of renewable hydrogen, but also cross-border infrastructure that connects renewable hydrogen sources in the North Sea to large-scale buyers.
Under the scheme, the aid will take the form of a direct grant per kilogram of renewable hydrogen produced. The aid will be granted for a maximum duration of ten years. Beneficiaries will have to prove compliance with EU criteria for the production of renewable fuels of non-biological origin (RFNBOs).
The European Hydrogen Bank is an initiative to facilitate EU production and imports of renewable hydrogen in and to Europe. Its objective is to close the investment gap and connect the future renewable hydrogen supply to consumers to meet the intended target of 20 million tonnes by 2030, contributing to the REPowerEU objectives and the transition to climate neutrality.
Run by the Innovation Fund, the hydrogen auctions implement the EU-domestic leg of the European Hydrogen Bank and are financed through the EU Emissions Trading System revenues.
Fibre2Fashion News Desk (DS)
The US–Iran military conflict has sent shockwaves through global energy and chemical markets. Crude surged past $*** per barrel in late March and April ****, its highest level in years. Prices briefly touched $*** per barrel in late April before stabilising near $*** per barrel, following several news-driven fluctuations. Year-on-year, this represents a surge of over +** per cent vs. **** highs and remains +** per cent above compared to last year’s equivalent period.
Key petrochemical feedstocks that directly feed the textile chain — Naphtha, Paraxylene (PX), Purified Terephthalic Acid (PTA), Mono Ethylene Glycol (MEG), Ethylene, and Ethylene Oxide are all under severe cost pressure. Further escalation above $***–***/barrel would trigger a new wave of downstream price hikes across yarn, fabric, and finishing chemicals.
The US-Iran war has intensified cost pressures, with higher fuel and product prices sharply weakening consumer sentiment.
Lower- and middle-income households are bearing the steepest burden as gas takes a larger share of discretionary spending.
Higher-income consumers remain more resilient, keeping aggregate demand firm despite widening spending divergence.
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