Chinese President Xi Jinping recently called for the building of a high-quality and high-standard free trade port in south China's Hainan Province.
Xi, also general secretary of the Communist Party of China (CPC) Central Committee, made the remarks while giving instruction on the construction of the Hainan free trade port, hailing the program an "important strategic decision" made by the CPC Central Committee to promote innovative development of socialism with Chinese characteristics.
Xi, who announced the decision to develop Hainan into a pilot free trade zone during a visit to the island in April 2018, also underscored the significance of the program for China's reform and opening-up in the new era.
In the process of the free trade port construction, efforts should be made to align it with high-level international economic and trade rules, facilitate free and convenient flow of factors of production, and prioritize the innovation of institutional integration, he stressed.
Xi called on Hainan to be proactive in building the free trade port and relevant departments of the CPC Central Committee and the state to support "bold reforms and innovations" in the province.
The program covers the entire island of Hainan. According to its blueprint, a free trade port system that promotes trade and investment liberalization and facilitation will be initially established by 2025; Hainan will be at the forefront of China's open economy by 2035; a high-level free trade port with strong international influence will be established by the middle of the century.
