Chinese President Xi Jinping has emphasized the need for high-standard development of the Hainan Free Trade Port (FTP), calling it a cornerstone of China's commitment to reform and global economic integration. During a review of progress in Sanya, Xi underscored the project's strategic importance as part of broader efforts to deepen opening-up policies under the Communist Party of China (CPC) Central Committee.
Xi, who also serves as General Secretary of the CPC Central Committee, described the FTP as a "major policy" to advance modernization and international cooperation. His remarks align with directives from the fourth plenary session of the 20th CPC Central Committee, urging coordinated efforts to achieve development targets.
A key milestone will occur on December 18, 2024, when Hainan launches island-wide special customs operations – a move Xi characterized as "a landmark" in China's push for high-standard globalization. Analysts suggest this could streamline cross-border trade, offering new opportunities for businesses and investors eyeing Asia's rapidly evolving economic landscape.
The initiative reinforces Hainan's role as a testing ground for innovative trade policies, potentially reshaping supply chains and strengthening China's position in global markets. For international observers, the project signals continued momentum in Asia's economic integration amid shifting geopolitical dynamics.
