German media: The strategic position of Hainan Free Trade Port: The ambition to recreate the "Shenzhen Special Economic Zone"
The construction goal of the Hainan Free Trade Port is to turn it into a globally influential trading center by the middle of this century. The expectations from Beijing for Hainan are often interpreted as an attempt to recreate a "Shenzhen Special Economic Zone," even serving as an export hub for China to Southeast Asia.
Special dates and regional competition
Notably, the closing date of December 18 coincides with the anniversary of China's opening up and reform policy that began in 1978.
Hainan was one of China's earliest special zones, and now it has further relaxed foreign investment access in service sectors such as medical care and education. Official data shows that since the release of the overall plan in 2020, more than 9,600 foreign-funded enterprises have been established in Hainan.
Against the backdrop of escalating tensions in the South China Sea, Hainan's strategic importance has become increasingly prominent. Transforming Hainan into a duty-free area is also seen as an important strategy for China to maintain regional stability through economic means and engage in trade negotiations with neighboring countries such as Vietnam in Southeast Asia.
Source: DW
Original: toutiao.com/article/1851883452381385/
Disclaimer: This article represents the views of the author himself.