Economy
13:29, 09-Mar-2019
China to expand opening-up in Hainan FTZ
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China will expand opening-up in fields such as international shipping, tourism and professional services in Hainan as the southern Chinese island is building a pilot free trade zone (FTZ).
The government will support accelerated growth of sectors like medical and health services and international exhibitions to attract more innovative players, Zhong Shan, the minister of commerce, told a press conference on the sidelines of the annual legislative session Saturday.
More decision-making power in reform measures will be granted to the Hainan pilot FTZ in terms of trade and investment facilitation, government supervision and other aspects, Zhong added.
"The environment should never be compromised during the development of the Hainan pilot FTZ," Zhong said.
China announced plans in April 2018 to build a pilot FTZ covering the whole island and explore the establishment of a free trade port with Chinese characteristics.
Source(s): Xinhua News Agency