SANYA /China/, December 7. /TASS/. Hainan Free Trade Port has become a hallmark of China's reform and will promote mutually beneficial regional cooperation, Chinese Foreign Minister Wang Yi said.
"Hainan Free Trade Port is a hallmark of China's reform and openness in the new era," Wang Yi said at a presentation of Hainan held at the Chinese Foreign Ministry.
According to the official, China's southernmost province has become "a new frontier of China's systematic outreach, a new home for mutually beneficial regional cooperation and a new impetus for economic globalization". The Foreign Minister pointed to Hainan's "vitality and boundless potential," which, through the implementation of high international standards, make it possible to attract more and more investors from around the world.
Feng Fei, Secretary of the CPC Hainan Provincial Committee and Chairman of the Hainan Provincial People's Congress Standing Committee, noted during the presentation that the accelerated development of the free trade port "demonstrates China's confidence and determination to steadily expand openness". He added that the province welcomes foreign partners and is willing to promote win-win cooperation with them.
Hainan Governor Liu Xiaoming spoke at the event about how the region is innovating and building a modern industrial system and advanced infrastructure. "We welcome representatives from all walks of life from China and abroad, and invite them to take a familiarization trip. We offer negotiations and cooperation to benefit from development together," he said.
In April 2018, Chinese President Xi Jinping announced the establishment of a pilot free trade zone and port in Hainan. The program aims to bring the island 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, by 2025 the province's business environment will reach the national level, and by 2050 the region will become a unique international cluster with an advanced economy and a home to the campuses of leading universities, advanced laboratories and the headquarters of global corporations.