A Chinese real estate company, Tiley Real Estate, based in Shenzhen, has secured land in an industrial park in Haikou, Hainan, China, to establish a project for the transformation of Mozambican cashew nuts. The project aims to produce the cashew nut in its deepest form and extracts for the food and cosmetic industries. The project is expected to generate an annual revenue of 1.1 billion yuan and increase Haikou's tax revenues by over 11 million yuan. This development follows China's decision to eliminate customs duties for 8786 types of products imported from 16 developing countries, including Mozambique, in September.