2024 RT Amination Banner.gif

China Daily

News> Nation> Content
Sunday, April 15, 2018, 14:20
China unveils guidelines on deepening Hainan reform
By Xinhua
Sunday, April 15, 2018, 14:20 By Xinhua

Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, visits the provincial administrative data center in southern Chinese province of Hainan, April 13, 2018. China on April 14, 2018 unveiled guidelines on supporting Hainan province to deepen reform and opening up. (LI XUEREN / XINHUA)

BEIJING – China on Saturday unveiled guidelines on supporting the southern island province of Hainan in deepening reform and opening-up, with details on turning it into a pilot free trade zone and creating a "free trade port with Chinese characteristics."

China aims to establish free trade port system in Hainan by 2025 and make the free trade port system and operational mode "more mature" by 2035

The document was jointly released by the Central Committee of the Communist Party of China and the State Council.

China has decided to set up an investment fund to support Hainan's development of a free trade port, according to the document.

READ MORE: Hainan to be key pilot trade zone

China aims to establish free trade port system in Hainan by 2025 and make the free trade port system and operational mode "more mature" by 2035.

A free trade port is the world's most open form of economic zone, which has brought prosperity to places like Singapore and Hong Kong thanks to its broad-based preferential policies on trade and investment.

China will also set up an investment fund to support Hainan's development of a free trade port.

Chinese President Xi Jinping Friday announced a decision by the CPC Central Committee to support building Hainan into a pilot free trade zone and gradually and steadily into a free trade port with Chinese characteristics.

ALSO READ: Under Xi, island basks in opening-up glow

Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, shakes hands with model workers and representatives of different occupations at a plaza of the Hainan Museum in Haikou, south China's Hainan province, April 13, 2018. (LI XUEREN / XINHUA)

China welcomes investors worldwide to invest and start business in Hainan and participate in the building of a free trade port there, Xi said at a celebration marking the 30th anniversary of the establishment of Hainan Province and the Hainan Special Economic Zone.

China will support the "all-round participation" of foreign firms in the development of the Hainan free trade port, and multinational companies are encouraged to set up international and regional headquarters there, according to the document.

Share this story