China has launched its most ambitious experiment since 1980: making its 'Ibiza' not just a vacation spot, but a business destination

Beijing is turning Hainan into a freer trade and investment zone with lower tariffs, tax incentives, and looser rules for foreign firms.

The island is meant to serve as an economic platform linking mainland China with Southeast Asia.

The plan extends China’s special economic zone model to an entire island, with potential effects on trade flows and supply chains.

It could also sharpen competition with Hong Kong as a regional business hub.