China aims at establishing Hainan free trade zone by 2035

China aims at establishing Hainan free trade zone by 2035
Click for full image
Chinese President Xi Jinping speaks during a joint press briefing with French President Emmanuel Macron, not shown, at the Great Hall of the People in Beijing, China January 9, 2018. REUTERS/Mark Schiefelbei/Pool

Beijing [China]: The China has aimed at making the free trade port system and operational mode of Hainan “more mature” by 2035.

A free trade port system will be “basically established” in Hainan by 2025, according to the guidelines on supporting Hainan’s efforts to deepen reform and opening up jointly released by the Central Committee of the Communist Party of China (CPC) and the State Council, as reported by the Xinhua news agency.

Further, an investment fund will be set up to support the Hainan’s development of a free trade port.

China’s President Xi Jinping on Friday announced a decision by the CPC Central Committee to support building Hainan into a pilot free trade zone and further build it into a free trade port.

He further welcomed the investors to contribute to the development of the port. He made these statements at the 30th anniversary of the establishment of Hainan Province and the Hainan Special Economic Zone.

Further various multinational companies have also been invited to set up their regional offices at Hainan.

Hainan has been declared at the Special Economic Zone. (ANI)