China's island province Hainan on Monday announced measures to rein in speculation in the soaring residential property market, following a new policy which designates the province as the country's new frontier for reform and opening-up.
The number of people travelling between the Chinese mainland and Ireland could increase by as much as 300 percent once the countries are linked by regular direct flights in June.
Among the regions to have tasted economic success is China's youngest province of Hainan, which this year marks its 30th anniversary as a province.
The development of Hainan into an international free-trade port heralds a new stage of the reform and opening-up of the Chinese economy as the island boasts the potential to compete with other international ports such as Hong Kong and Singapore, experts said on Monday.
The grand plan to build Hainan into an international free-trade zone will not only boost South China's development, but also catalyze economic growth in the Asia-Pacific region and the rest of the world, said one of the nation's top experts in international trade.
Share prices of Hainan-related companies rallied on Monday in response to President Xi Jinping's speech on Friday supporting the building of the whole island into a pilot free trade zone and a free port with Chinese characteristics.
China's plans to further open its economy, including the latest measure to build Hainan island into an international free-trade zone, reaffirmed the country's commitment to market liberalization and its role as a key driver of global growth, experts said.
