Understanding Hainan Free Trade Port: China's Efforts to Explore High-level Opening-up

Wenfeng Wei ()
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Wenfeng Wei: China Institute for Reform and Development, Postal: chaina, Bei Jing Shi, Xi Cheng Qu, 月坛南街38号 邮政编码: 100045, https://jlucqe.jlu.edu.cn/english/Introduction1/About_CIRD.htm

No 22-43, World Economy Brief from Korea Institute for International Economic Policy

Abstract: On 13 April 2018, upon the 30th anniversary of Hainan province, Chinese President Xi Jinping announced to build Hainan into a free trade port. According to the Master Plan for the Construction of the Hainan Free Trade Port released by the State Council on 1 June 2020, China aims to build this southern island province into a high-level free trade port with global influence by the middle of the century. As China's largest special economic zone, Hainan is expected to become the frontline of China's integration into the global economic system. Noting that the world is facing a new round of major development, changes and adjustment, with protectionism and unilateralism on the rise and economic globalization facing greater headwinds, it was also a strategic decision of Chinese authorities based on the domestic and international landscapes. As such, Hainan Free Trade Port (HNFTP) is more than a regional development initiative, and it has a much bigger role to play in China’s reform and opening endeavors.

Keywords: Hainan Free Trade Port; Explore High-level Opening-up (search for similar items in EconPapers)
Pages: 8 pages
Date: 2022-10-27
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