HAIKOU /China/, April 23. /TASS/. Hainan authorities intend to pursue policies to attract more skilled professionals and investors, increase implementation of measures aimed at reforms and policies to enhance openness. This was announced by Hainan Province's acting governor Liu Xiaoming.
"During the next phase <...> Hainan will focus even more on solving problems such as hiring qualified personnel, actively attracting investors, extensively strengthening openness and implementing reforms," he stressed, speaking at a press conference on the development of Hainan's free trade port.
Liu Xiaoming clarified that the provincial administration plans to help maintain the positive trend in the establishment of new, more effective mechanisms of socio-economic development. One of the key tasks, he noted, is to gradually improve the model aimed at stimulating intensive growth.
The official recalled that a solid foundation has been laid for Hainan's sustainable development over the past five years. Specifically, its gross regional product has grown by an average of 5.3% a year, budget revenues by 4.3%, retail sales by 5.6%, and average per capita income of urban and rural residents by 5.4% and 8.2%, respectively.
"With stronger reforms and increased openness, the development of Hainan's free trade port is becoming more dynamic. <...> There is an increasing emphasis on intensive forms of development, and tangible progress has been made in transforming and improving the efficiency of the economy," Liu Xiaoming emphasized. "We have focused on increasing the role of new growth factors, and new development impulses have been continuously strengthened."
According to the acting governor, one of the priorities for the Hainan administration is to improve the business environment and to maintain high confidence of market participants in the region's development strategy. In addition, the local authorities are actively working to protect the environment; according to experts, the province is in the lead among other territorial units of China on environmental indicators.
Five-year Free Trade Port anniversary
On April 13, 2018, Chinese President Xi Jinping announced the establishment of an experimental free trade zone and port on Hainan. The goal of the program is to bring the island into the process of globalization and international labor distribution, laying a solid foundation for innovation. Local authorities are creating an attractive climate for investors and developing scientific and production infrastructure.
According to the government's plan, by 2025, the province's business climate will reach advanced levels nationwide, and by 2050, the region will become a unique international cluster with an advanced economy, home to campuses of top universities, cutting-edge laboratories and headquarters of global corporations.