China's poverty alleviation model is highly applicable and offers practical lessons for Africa, said a U.S. economist in an interview with China Media Group aired on Friday.
Jeffrey Sachs, a professor at Columbia University, said China's development path in fighting poverty is the essential blueprint that Africa should emulate in its quest to eliminate poverty.
"China went from being a poor country in 1980 to ending poverty in 2020. It's a roadmap for Africa, incidentally, which I explain all the time in the African context. First, Africa should be unified because it also has 1.4 billion people. So, if it acts as a true union, then it can emulate the roadmap of China," said Sachs.
"China was a high-saving, high-investing, and well-planned economy for 40 years with market forces and government strategy planning big investments in infrastructure, and big investments in education. That's the basic roadmap that Africa too should take to eliminate poverty," he said.
China's poverty alleviation experience provides roadmap for Africa: economist
Duty-free sales in China's Hainan Free Trade Port (FTP) reached 161 million yuan (about 22.8 million U.S. dollars) on Thursday, the first day of island-wide special customs operations, according to official statistics released Friday by Haikou Customs.
Nearly 24,800 shoppers purchased about 118,000 items on the day, up 53 percent and 25 percent year on year, respectively, the data showed.
At the Haikou International Duty-Free Shopping Complex, significant discounts drew large numbers of customers.
"We were curious about the changes after the island-wide special customs operations were implemented, so we came to have a look," said a customer.
"Foot traffic is up at least three to four times compared with usual levels, and new products are selling very well," said Xu Xueli, a salesperson at the Haikou CDF Mall.
The Haikou Global Premium Duty Free Plaza was also bustling with customers engaging in interactive games and promotional activities.
"The performances are fantastic, and the discounts are very generous. I came after the island-wide special customs operations began to buy some duty-free items. I've had my eyes on, and I'm really happy," said another customer.
"By integrating cultural experiences and duty-free shopping, we aim to better incorporate Dongpo culture into the consumer experience," said Chen Haidan, sales manager in the operations management department of the Haikou Global Duty-Free Plaza.
Su Dongpo was a prominent poet and cultural figure of China's Song Dynasty (960–1279), celebrated for his literary legacy and culinary skills.
The island-wide special customs operations took effect Thursday in the Hainan Free Trade Port, the world's largest free trade port by area, allowing freer entry of overseas goods, expanded zero-tariff coverage and more business-friendly measures.
Hainan records 161 mln yuan in duty-free sales on first day of special customs operations
