The policies China rolled out to support Hainan's free trade port development are starting to pay off, with the province now seeing a robust inflow of foreign investment and an upswing in registrations of new businesses, officials and experts said.
A global innovation city developed in Haikou's Jiangdong New District has opened to investors, according to sources with Greenland Holdings Group's Hainan subsidiary.
The central government has unveiled a new package of measures to spur the growth of foreign trade, including steps to support exporters' use of new technologies and channels to explore the international market and enhance the competitiveness of small and medium-sized enterprises.
The Regional Comprehensive Economic Partnership (RCEP) agreement was signed among its 15 participating countries Sunday, launching the world's biggest free trade bloc.
Fifteen Asia-Pacific countries on Sunday signed the Regional Comprehensive Economic Partnership agreement, the world's largest free-trade deal, which was hailed by Premier Li Keqiang as "a victory of multilateralism and free trade".
China's higher-level opening-up is an essential choice it makes for its future development when it strives to shape the new development paradigm of "dual circulation" and will offer more opportunities to the rest of the world for shared growth, experts and scholars said.
Efforts should be made in spurring domestic consumption, upholding innovation-driven development and insisting on the reform and opening-up when China strives to build the new development paradigm of "dual circulation", said Xie Fuzhan, president of the Chinese Academy of Social Sciences.
