Institute launched to support Hainan free trade port development

The China Institute for Free Trade Ports with Chinese Characteristics was officially launched by the Hainan provincial government on Wednesday in Haikou, capital city of Hainan province, to support the island's free trade port development.

In an early April gathering in Haikou celebrating the 30th anniversary of the founding of Hainan province and the Hainan Special Economic Zone, the central government unfolded a plan to support Hainan in developing the whole island into a pilot free trade zone as well as gradually exploring and steadily promoting the establishment of a free trade port with Chinese characteristics.

Hainan will be China's largest free trade zone, enjoying higher-level opening-up policies. The move highlights the country's resolution of further opening-up and promoting economic globalization.

Haikou-based China Institute for Reform and Development, which has jointly built the new research entity with the National Institute for South China Sea Study, Hainan University and Hainan Normal University, will be responsible for its daily operation, according to the provincial government.

The institute was designed to carry out theory and policy research on the free trade zone (ports) to provide intellectual support to Hainan's government policymaking.

Its main responsibilities include carrying out studies on the development of a free trade zone (ports), setting up a consultation mechanism to boost communication between Chinese and overseas experts with the Hainan provincial Party committee and Hainan provincial government, participating in discussions on important issues concerning Hainan's free trade zone (ports), providing training for local government officials, and establishing an expert resources platform to attract talent and experts to Hainan, according to Chi Fulin, head of CIRD and president of the new research body.

He said the institute, with an experts committee composed of 21 leading Chinese and foreign experts, will try its best to complete before October a recommendation report on the general plan framework for the construction of free trade ports with Chinese characteristics in Hainan.