BOAO /China/, March 25. /TASS Correspondent Nikolai Selishchev/. The transition of the southern Chinese province of Hainan to a new customs model will boost the whole range of its economic cooperation with Russia, China's leading expert on the development of the Hainan Free Trade Port Zhao Jinping told TASS.
"It's about being globally oriented, <...> whether it's Asian countries or other states, such as European countries, or other regional economies, it's about strengthening ties with Hainan and promoting the whole range of economic cooperation. First of all, I would like to emphasize that this is openness to the world in its entirety," he said at the Boao Asian Forum on Hainan, commenting on the consequences of the province's transition to the offshore model for all countries, including Russia.
According to the expert, these changes will affect trade not only with Southeast Asian countries, but also with European countries, as well as with Russia and Central Asia. He noted that in recent years the global economic system has undergone significant changes, as a result of which contacts with Russia are becoming increasingly important for China.
Zhao Jinping compared the current situation in Sino-Russian trade to that on the eve of the COVID-19 pandemic. "The structural changes that have taken place show that our future is tied to Europe, especially Russia, as well as cooperation between China and Central Asian countries," he stressed.
Hainan can play the role of a platform to further expand opportunities for pragmatic interaction between China and Russia, according to the expert. He noted that more Russian citizens come to Hainan for vacation and work than citizens of European countries. The expert noted that the preferential policies and strategic measures of the southern Chinese province will play a positive role in strengthening cooperation with Russia.
According to the official plan, in 2025 Hainan will move to an offshore model of trade and economic development, as a result of which the province's customs checkpoints will cease to operate in their current format. The necessary conditions for this have already been created, and in the near future the authorities plan to agree on minor details of the new mechanism. The residents of the island will be categorized as a population of the territory with a special legal status, different from other regions of mainland China.