The memorandum expresses an intention to strengthen ties through joint projects rather than committing either side to specific undertakings.
Sanya, the resort city on the southern coast of China's Hainan Province, has added another partner to its free trade network. According to Sanya Daily, as reported by TASS, the Sanya Central Business District Administration signed a memorandum of understanding with Italy's Western Ligurian Sea Port Authority in an online ceremony last week. The agreement brought the number of Hainan's global free trade partners to 46.
The memorandum expresses an intention to strengthen ties through joint projects rather than committing either side to specific undertakings. According to the newspaper, cooperation will focus on cruise and yacht transportation, maritime logistics, the exchange of corporate expertise and foreign trade. One stated objective is to strengthen and expand Hainan's supply chains in line with advanced international standards.
An official assessment cited in the report describes Hainan's cooperation network as increasingly extending across Southeast Asia, the Middle East and European markets. The recent agreements are expected to deepen cooperation between the province and Italy in port construction, the cruise and yacht industries and international logistics. The newspaper's authors argued that such partnerships are in particularly high demand for the modernisation of the maritime industry.
The scale of Sanya's yachting sector gives the memorandum some substance. The report notes that the city has more than 1,000 berths and 1,400 registered yachts, a figure still rising, partly thanks to international exhibitions held on the island and the elimination of import duties on recreational vessels. Another incentive cited is an increase in the maximum permitted passenger capacity of yachts to 26 people. Cross-border cruise routes are described as equally important to the city.
The Sanya Central Business District Administration said local authorities would continue strengthening international ties, expanding channels of cooperation with European countries and broadening the global partnership network aimed at promoting free trade. The emphasis on Europe is notable given the wider climate for Chinese investment and trade on the continent, though the report offers no detail on how that expansion might proceed.
Several things are not yet known. The report gives no value for the memorandum, no timetable and no named projects, and memoranda of understanding are frequently non-binding. It does not say which other partners make up the 46, or how many are in Europe. The Western Ligurian Sea Port Authority's own account of the agreement is not included. The figures for berths and yachts are attributed to the newspaper and are not independently confirmed. What the report does show is a province positioning its maritime and logistics sectors, and its duty-free leisure market, as the basis for international partnerships.
