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Hainan's free port to ensure benefits for both Chinese and foreign investors

The Chinese official hashed over positive changes that are underway in the Hainan province

HAIKOU, June 9. /TASS/. The promotion of the construction of Hainan's free port will make the island a paradise for investment and development and will create benefits for both Chinese and foreign investors, the Secretary of the Party Committee for Hainan Liu Cigui said.

"During the free trade port's construction we will certainly make it clear to everyone across the country, Chinese and foreign investors as well, that Hainan is a paradise for investment and development," the Hainan Daily newspaper quoted him as saying.

According to Liu Cigui, the authorities are actively developing infrastructure on the island at present, implement pilot projects, take measures to attract talented specialists to the island both from other regions of China and from abroad.

"[Over this time], 69 measures were taken in line with international standards to better the region’s business climate, measures were taken to attract foreign investment and new market entities to Hainan, and strict environmental protection was provided," said the party committee secretary. He also pointed out that for two years Hainan has adhered to the principles of promoting reform and enhancing the openness of the island. 

Earlier, the Central Committee of the Communist Party of China and the Сhinese State Council published the “General Program for the Establishment of a Free Port on Hainan,” according to which the island’s administration intends to create an effective system to fulfill a number of important social and economic goals by 2025, and within 10 years to decisively enhance the innovative mechanisms for the region's development. 

In April 2018, President Xi Jinping said that the Chinese authorities intend to actively involve Hainan in globalization and to draw foreign investors to the island province. By 2050, according to the authorities, the island should become a unique international cluster with an advanced economy, developed tourism, top-notch scientific, technical and financial potential, and modern medicine. The branches of the best universities and offices of the most powerful corporations in the world will be located on the Island of Hainan.

By 2025, the Chinese government intends to create an "international center for tourism and consumption" on Hainan. In order to do so, the "Eastern Hawaii" with their unique natural landscapes, thick rainforests and great climate will establish a developed network of hotels, which blend perfectly with white sandy beaches stretching along the coastline. The combination of an exotic subtropical nature and a modern eco-friendly infrastructure will boost tourist inflow to the island from the most distant parts of the world.