China will make Hainan an example of reform and opening up in a new era

BEIJING, April 13, 2022 /CNW/ – China has pledged to build its southern island province of Hainan into a free-trade port of global influence and make it an example of the country’s reform and opening up in the new era.

Hainan’s unique role in China The reform and opening-up campaign was in the spotlight as President Xi Jinping inspected the island from Sunday to Wednesday.

Yangpu Economic Development Zone

Xi inspected the Yangpu Economic Development Zone in Danzhou City on Tuesday and learned about the development of the zone and the construction of the free trade port with Chinese characteristics.

Describing Yangpu as a pilot and demonstration zone of the Hainan Free Trade Port, he called for bold innovations in the construction of the zone and efforts to better serve the Belt and Road Initiative (BRI). ).

He visited an exhibition on Hainan’s achievements in deepening reform and opening up and building free trade port on Wednesday.

Enjoying a deep water port and special location advantages, Yangpu has played an important role in Hainan’s reform and opening up since the establishment of a state-level development zone in 1992.

Located northwest of HainanYangpu is close to the ASEAN Free Trade Area, with a straight line distance of less than 500 nautical miles from more than 10 major port cities in the region.

Yangpu is also a meeting point of the New International Land-Sea Trade Corridor – a trade and logistics passage jointly built by Singapore and western provincial level regions China – and the 21st Century Maritime Silk Road, which is part of the BRI.

Yangpu Port’s container throughput reached 403,300 twenty-foot equivalent units (TEUs) in the first quarter of the year, up 61.84 percent from the same period last year.

Hainan’s advances in opening upgrade

During his inspection tour in HainanXi also visited a seed laboratory and a research institute of Ocean University of China in the city of Sanya, and a section of a national rainforest park and a village in the city of Wuzhishan.

He attended a meeting with senior provincial officials at the end of the tour, calling for efforts to make Hainan Free Trade Port an elegant “visiting card” of China.

Hainan should focus on developing tourism, modern services, high-tech industries and tropical agricultural industry, and speed up the construction of a modern industrial system, he said.

He called for removing drawbacks from systems and mechanisms and deepening openness in broader areas.

It was Xi’s first inspection tour of the province since April 2018when he attended a rally celebrating the 30th anniversary of the founding of Hainan Province and Hainan Special Economic Zone. He announced plans to build an island-wide pilot free trade zone and explore the establishment of a free trade port with Chinese characteristics during the trip.

In June 2020Chinese authorities have released a master plan for the Hainan Free Trade Port, aiming to make the province a high-level free trade port of global influence by mid-century.

A system of free trade ports focused on the liberalization and facilitation of trade and investment will be “essentially established” by Hainan by 2025 and become “more mature” by 2035, according to the plan.

Authorities expect to do Hainan the front line of China integration into the global economic system, he says.

One year later, China passed a law on the Hainan Free Trade Port, providing institutional arrangements for the construction of the port at the national legislative level.

The law specifies that the Hainan Free Trade Port covers the whole island and establishes policies and systems in stages or phases to realize the liberalization and facilitation of trade, investment, cross-border flow of funds, inflows and personnel exits and transport, and ensure the secure flow of data.

https://news.cgtn.com/news/2022-04-13/China-to-make-Hainan-an-example-of-reform-opening-up-in-new-era-19cDYBYsRmo/index.html

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