Since 1980, Xiamen has had a special economic zone in the Siming and Huli districts, which together form Xiamen Island. To attract foreign investment, this was further expanded in 1992 by 0.62 square kilometers, the Xiangyu free trade zone became a fact. A new pilot free trade zone was recently opened in Xiamen following a successful pilot in Shanghai. This new zone expands the existing Xiangyu free trade zone and now also includes the Haicang port. The pilot free trade zone should make it even easier for foreign companies to invest in China. For example, importing goods is a lot easier within the free trade zone, where there are several administrative advantages. It is expected that Xiamen will receive similar benefits that currently apply in the Shanghai free trade zone.

Xiamen is one of a select group of cities where the government has maintained a special economic zone since the early 1980s. The Chinese government has been experimenting with free trade zones since 2013, and Shanghai was the first city to test it. After a successful start in Shandhai, the experiment was further expanded in 2015, the province of Fujian was added three free trade zones, of which Xiamen is part. The ultimate goal of these zones is to make investments from foreign companies more attractive. Operating in the free trade zone comes with a number of advantages, including less control from the central government in Beijing.