Home  >  Business   >   Building FTZ and Free Trade Port
Building FTZ and Free Trade Port

Chinese expert clarifies significance of Hainan FTZ construction

chinadaily.com.cn | Updated: 2018-05-11


Hainan province has abundant favorable conditions to develop a free trade port. [Photo by Luo Yunfei/Chinanews.com]

Wu Shicun, president of the National Institute for South China Sea Studies, exchanged ideas with Chinese and foreign journalists and media officers on Hainan's new development opportunities at a press salon held in Beijing on May 10 by the All-China Journalists Association.

Wu thought that the promotion of Hainan's free trade zone and free trade port construction was a concrete embodiment of China's resolution in advancing reform and opening-up in larger areas and more fields. It also responds to the commitment of the opening-up strategy with practical actions benefitting the international community at a pace controlled by China.

He said that the important decision of the central government to explore building a Chinese characteristic free trade port in Hainan to mark the province's 30th anniversary and the 40th anniversary of China's reform and opening-up policy will greatly change Hainan's fate and benefit China's future development.

Wu also mentioned the significance of the strategic measure to the world, to China and to Hainan. Seen on the international level, it shows China's devotion to boosting economic globalization with a more active opening strategy even though investment protectionism is spreading. To China, the experience and achievements of Hainan will mobilize other provinces and cities and be an example for them. As for the province itself, new systems and policies as well as larger decision-making powers will guarantee its leapfrog development. Planning for tourism development, modern services and high and new technology industries also clearly indicates the direction of progress.