China plans to build Hainan into pilot free trade zone

BEIJING - Chinese President Xi Jinping has announced a decision to develop the island of Hainan into a pilot free trade zone. The State newsagency, Xinhua, reported Xi as saying the Communist Party of China Central Committee had decided to support Hainan in developing the whole island into a pilot free trade zone, “and gradually exploring and steadily promoting the establishment of a free trade port with Chinese characteristics”.

Focussing on specific sectors, including seeds, medical care, education, sport, telecommunications and finance, the pilot free trade zone would push forward opening up of modern agriculture, high-tech industries and modern services, boost the development of service trade, protect the interests of overseas investors and promote the gradual opening-up of the shipping industry, Xi said.  www.webershandwick.cn (ATI).