BOAO /China/, March 26. /TASS/. Hainan Free Trade Port will play the role of an important international hub and become one of the key links in implementing the policy of strengthening China's openness, according to the participants of the Boao Forum for Asia (BFA), which is being held on Hainan Island.
"Hainan is on its way to becoming a powerful 'magnet' attracting professionals, capital and resources from around the world," Ban Ki-moon, Chairman of the BFA Board of Directors and 8th UN Secretary-General, said at an event at the forum site dedicated to the global development of free trade ports. He noted that the internationalization process of China's southernmost province will cover a wide spectrum - from infrastructure, modern services, tropical agriculture and high-tech industries to tourism, maritime logistics and finance.
The Secretary-General recalled that Chinese President Xi Jinping has decided to turn Hainan into a developed zone to promote international trade and economic interaction. The measure, Ban said, was taken as a strategic move to strengthen China's openness to the outside world. "Turning an entire province into a free trade zone is a bold step that requires vision and leadership. It has proven to be the right one: over the past seven years, my colleagues and I have seen first-hand how the province has been transformed and renewed," Ban Ki-moon added.
Hainan's contribution to regional and global cooperation
Zhou Xiaochuan, Vice Chairman of the BFA and former Governor of the People's Bank of China (PBOC), noted that the construction of the Hainan Free Trade Port is an important strategic initiative of the Chinese government. "I believe Hainan will make an increasingly significant contribution to Asian and global cooperation amid the great changes in the world," he said.
The former governor of China's central bank also noted the province's importance in promoting cooperation between China and member states of the Association of Southeast Asian Nations, in the implementation of the One Belt, One Road Initiative projects, and in regional agreements such as the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. As he stated, Hainan "will provide an outstanding demonstration effect for China's reform and policy of openness".
According to former Kyrgyz Prime Minister Akylbek Japarov, who also delivered a speech, the picturesque island of Hainan is "an important economic port not only for China, but for the whole of Southeast Asia." "We are witnessing a shift in the center of gravity of the world economy from the Atlantic to the Asia-Pacific region," he said.
Japarov added that in the context of a dynamically changing global environment and increasing uncertainty in the international arena, he believes it is important to "deepen the interconnection between East and West", in this regard Kyrgyzstan "could become an important link as a connecting bridge on the Eurasian continent".
For his part, Hainan Governor Liu Xiaoming noted that the key role of FTZs and ports is "to break down barriers, not to build high walls; to create opportunities, not to monopolize dividends [from development]". He noted the province's willingness to strengthen international consensus on global economic development, launch joint initiatives, and promote dialogue among government agencies, businesses, the public, and think tanks.
In April 2018, Xi announced the establishment of a free trade port on the island. The program aims to bring Hainan into the process of globalization and international division of labor, and lay a solid foundation for innovation. Local authorities are creating attractive conditions for investors and developing scientific and production infrastructure. According to the government's plan, the province's business climate will soon reach the national level, and by 2050 the region will become a unique international cluster with an advanced economy, housing campuses of leading universities, advanced laboratories and headquarters of global corporations.