China will leverage its open-platform synergy to deepen the institutional opening-up of the Hainan Free Trade Port (FTP), and unlock new growth drivers for the country, a Commerce Ministry official said Wednesday.
Yuan Xiaoming, assistant minister of commerce, briefed the media at a press conference in Beijing. Yuan said the ministry has long backed the Hainan FTP in aligning with top-tier global trade and investment rules.
Going forward, more efforts will be made to double down on institutional upgrades, like liberalizing and streamlining trade and investment, widening market access, and ensuring fair competition, to build a world-class business environment on the island.
The ministry has supported the establishment of island-wide open platforms, such as the free trade pilot zone, cross-border e-commerce comprehensive pilot zone, and the comprehensive pilot program for further opening up of the service industry, Yuan noted.
In the future, the ministry will continue to support the island province to upgrade these platforms, unlock more policy dividends, and deliver fresh reform and opening-up dividends for the FTP.
"China will leverage Hainan's unique resources and geography to plug gaps, extend value chains, and fortify key industries. We will roll out tailored policy measures to drive fresh innovation in merchandise, services, and digital trade; incubate new business forms and models; pull in industry clusters; and help the island build a modern industrial system," Yuan said.
China to further improve institutional opening-up of Hainan FTP: official
