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Hainan FTP to create dual-circulation intersection

ehainan.gov.cn | Updated: 2021-11-02

In a new development pattern where the domestic market is the mainstay while the domestic and foreign markets reinforce each other, the Hainan Free Trade Port (FTP) should give full play to the advantages of the intersection, deepen the cooperation with ASEAN and European Union countries, and try high-standard economic and trade rules, many scholars mentioned at the 87th International Forum on China Reform, which was held in Haikou, Hainan province over the weekend.

"It is a major task for the Hainan FTP to build a new development pattern to create the intersection for the two major markets of China and ASEAN," said Chi Fulin, president of the China Institute for Reform and Development.

As China's leader in opening-up, the Hainan FTP has attracted much international attention. At the forum, foreign experts expressed that the Hainan FTP should strengthen various international exchanges and cooperation.

"In the past few decades, Hainan and ASEAN have made a lot of connections. For example, they have jointly conducted research on natural ecology such as mangroves and climate change," said Yang Rongwen, visiting professor at the National University of Singapore. Yang believes it is necessary for Hainan to increase ties with ASEAN.

Hainan FTP can play an important role in trade, IT, and financial cooperation between China, ASEAN, and the EU, said Shada Islam, founder of the China-Europe Forum and visiting professor at the European Academy. She believes that the Hainan FTP has great prospects in China-EU cooperation in the fields of energy, maritime security, and trade liberalization.


A cruise liner docks at Sanya Phoenix Island International Cruise Terminal, Hainan province. [Photo provided to chinadaily.com.cn]