Hainan, China’s largest economic special zone is going to be the next best free trade port hub in the world by 2035, said Professor of Law School of Hainan University and Deputy Director of Hainan South China Sea Policy and Law Research Center Zhang Liangfu.
He said this in a programme 'Introduction to Hainan Free Trade Port' at the Sanya city of Hainan province where 31 journalists from 25 countries including staff correspondent of United News of Bangladesh from Bangladesh attended. The professor also answered the questions of the journalists.
He said the Central Committee of the Communist Party of China decided to build Hainan Island into a free trade pilot zone, supporting Hainan’s gradual exploration and steady advancement of the construction of a Chinese-style free trade port, and establishing a policy and institutional system for free trade ports in stages and steps in April 2018.
Saying that the free trade port is hailed as the most advanced form of openness in the world today, he said the construction of a free trade port in Hainan represents China’s strategic choice to explore and promote a higher level of opening up, demonstrating China’s unwavering determination and confidence in advancing opening up.
He informed that the initial establishment of a policy and institutional system for free trade ports focused on trade liberalization and investment facilitation will be finalized by 2025.
"The institutional system and operational model of the free trade port will be more mature by 2035," he also said.