Forum on China Reform: Expert: More needs to be done, especially in private sector

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China's ongoing reform and opening up process was also on the agenda at a special forum in the southern city of Haikou. Global experts on the subject agreed that while China's economic growth has been tremendous over the past couple of decades, MORE still needs to be done -- especially in the private sector. CGTN's Sun Ye has more now from Hainan province, China's largest special economic zone.

The consensus is that China has achieved "historic growth" through opening-up and reform.

But there is no time to lie back and relax.

CHI FULIN, PRESIDENT CHINA INSTITUTE FOR REFORM AND DEVELOPMENT "We are at the next stage of opening up and reform. And it's just as complex and important as what we experienced 40 years ago."

Chi has been at the center of the reforms over the past decades. He said the complexities today ask for stepped up measures.

CHI FULIN, PRESIDENT CHINA INSTITUTE FOR REFORM AND DEVELOPMENT "We are shifting into a new development stage in industrialization. And the manufacturing sector is going through a critical upgrade. We're shifting to an economy that relies on consumption, and the service sector needs further reform."

And special economic zones, like Hainan, continue to be the first to find answers to the challenges, by boosting the private sector.

SHEN DANYANG VICE GOVERNOR, HAINAN PROVINCE "We will work on lowering the transaction costs for companies. We will also focus on creating a better business environment."

And carrying on in the vein of the 40 years of reform.

So that growth will go on.

SY, CGTN, HAIKOU.