The Hainan free trade port (FTP) will likely become the world's biggest duty-free market in the near term if it continues on its current growth curve, according to a report jointly released by KPMG China and The Moodie Davitt Report.
May 7, 2021 | E-Commerce |
Cainiao Smart Logistics Network, the logistics arm of Alibaba Group Holding Limited, today announced its strategic plan to implement global smart supply chain technologies in Hainan to meet the explosive growth in consumer demand.
This will allow Cainiao to provide a strong logistics infrastructure to support the needs of Hainan’s Free Trade zone, and serve consumers and merchants across the globe with its digitalized full-chain logistics solutions. As one of Cainiao’s core logistics hubs, Hainan will connect to its eHubs in Hong Kong, Kuala Lumpur and Liege, and playing a pivotal role in driving globe trade and e-commerce across Asia and Europe.
China achieved 2.3 percent GDP year-on-year growth in 2020, becoming the only major economy to register positive growth despite the global economic recession triggered by the novel coronavirus outbreak.
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