Hainan Free Trade Port new frontier of China's opening up: FM

The Chinese Ministry of Foreign Affairs on Wednesday hosted a promotional event to present the Hainan Free Trade Port to the world in Beijing, with Foreign Minister Wang Yi hailing it a new frontier of China's institutional opening up.

Addressing the event, Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said China is committed to development through high-level opening up.

Wang said China will continue to foster a business environment that is market-oriented, law-based and internationalized, promote high-quality Belt and Road cooperation, and implement the Global Development Initiative.

Major officials from the island province of Hainan were invited to make presentations to more than 500 attendees, including diplomats and officials from over 160 countries, representatives from international organizations, central and local government officials, and representatives from enterprises, international trade associations, and domestic and foreign media.

In June 2020, China released a master plan with aims to build the whole of Hainan island into a globally influential and high-level free trade port by the middle of the century.

Wang said that the construction of the Hainan Free Trade Port has gained momentum and the region has attracted an increasing number of regional and global enterprises to invest and operate business, presenting a new and dynamic environment of openness and progress.

"Today's Hainan Free Trade Port has become a new frontier of China's institutional opening up, a new hot spot for regional mutually beneficial cooperation, and a new engine driving economic globalization," Wang stated.

According to the promotional event, the construction of Hainan free trade port has gained momentum, with a institutional system focusing on trade, investment, cross-border capital flow, transportation, personnel exchange, and data flow basically established.

"Over the past six years, Hainan's trade volumes in goods and services grew at an average annual rate of 22.2 percent and 20.2 percent respectively, while the actual utilization of foreign investment grew at an average annual rate of 46 percent. Hainan is currently making every effort to turn the whole island into a separate customs zone by the end of 2025, and then Hainan's openness will be elevated to a new level," said Liu Xiaoming, governor of Hainan Province.

China calls on the Philippines to stop infringement activities and provocations at once and not to challenge China's firm resolve to defend its lawful rights and interests, Foreign Ministry spokesman Lin Jian said on Wednesday.

Commenting on the claim by the Philippines saying that the China Coast Guard fired water cannon at a Philippine vessel, Lin said Huangyan Dao has always been China's territory, and the Philippines sent Coast Guard and official vessels there and tried to intrude into China's territorial sea surrounding Huangyan Dao.

"In response, China did what was necessary to protect our territorial sovereignty and maritime rights and interests in accordance with the law. The measures are justified, lawful, professional and restrained," he said.