Hainan Free Trade Port (FTP) has recorded strong early momentum following the launch of island-wide special customs operations, with total import and export value surpassing ¥80 billion (~$11.6 billion) in the first 100 days, marking a 32.9 per cent year-on-year (YoY) increase.

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)

China will begin applying agreed tariff rates to certain imports originating from the Republic of the Congo from April 1, according to the Customs Tariff Commission of the State Council.

The measure implements tariff reduction commitments made under the ‘Early Harvest Arrangement of the Agreement on Economic Partnership for Shared Development’ between the two countries.

China will implement preferential tariff rates on selected imports from the Republic of the Congo starting April 1 under the Early Harvest Arrangement of their economic partnership agreement.
The move announced by the Customs Tariff Commission, is aimed at fulfilling tariff reduction commitments, enhancing bilateral trade cooperation and advancing long-term economic ties between the two countries.

The commission said the move is in line with China’s tariff law and reflects the country’s continued efforts to expand opening-up and strengthen trade ties with African partners.

Officials stated that the preferential tariff treatment will help deepen bilateral economic and trade cooperation and support the development of a higher-level community with a shared future between China and the Republic of the Congo.

The Early Harvest Arrangement, signed in November 2025, marked the first such agreement of its kind between China and an African country, paving the way for broader market access and phased tariff reductions.

Fibre2Fashion News Desk (JP)

The Middle East war poses a greater risk to Bangladesh, Pakistan and Sri Lanka, and to a lesser extent Laos, due to their high dependence on imported energy and limited reserve supplies, according to S&P Global Ratings.

These countries are particularly vulnerable to rising oil prices and potential supply disruptions, it noted in a recent article.

The Iran war poses a greater risk to Bangladesh, Pakistan and Sri Lanka, and to a lesser extent Laos, due to their high dependence on imported energy and limited reserves, S&P Global Ratings said.
These countries are particularly vulnerable to rising oil prices and potential supply disruptions.
All four governments are likely to see significant credit metric deteriorations, if the conflict is prolonged.

In our base case scenario, the war is unlikely to have a material impact on our sovereign ratings on these countries, but a more prolonged price and supply shock in global energy markets could cause more pronounced credit damage.

Pakistan, Sri Lanka, and Bangladesh are showing signs of economic recovery. The three countries have made progress, but sustained high energy prices and potential disruptions to trade and remittances could derail their fragile economies.

S&P Global Ratings believes the higher-income Asia-Pacific (APAC) economies are better placed to weather temporary disruptions to oil and gas supply from the Middle East.

Even where they are highly dependent on imported energy, they generally have more significant oil reserves to meet the shortfall in imports. They also have financial resources to acquire available supply in the spot oil and gas markets to secure needed energy, the rating agency noted.

Lower-income economies in the region do not enjoy such flexibility. The sovereign ratings on some may face pressure if the supply disruption persists longer than our assumptions. Bangladesh, Laos, Pakistan and Sri Lanka are among this group. These economies have one thing in common: a high dependence on imported energy products.

The Middle East war is likely to have a more severe impact on these economies, due to their fuel import bills, and generally weaker fiscal and external reserves to withstand supply shortages and high oil prices.

Among the four sovereigns, Laos is likely to fare better due to the dominance of hydropower in its energy mix.

Bangladesh, with government revenues at only around 9 per cent of gross domestic product, has fewer options to cap electricity and fuel prices through fiscal means.

All four governments are likely to see significant credit metric deteriorations, through inflation and currency channels, if the Middle East conflict is prolonged. However, the impact on the agency’s ratings on these sovereigns may be limited, as the generally low rating levels have already captured a significant share of the risks.

S&P Global Ratings’ base case for the Middle East war assumes that elevated hostilities will persist into early April, with the Strait of Hormuz facing material disruptions.

Fibre2Fashion News Desk (DS)