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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Dec. 17 (Xinhua) — The launch of island-wide independent customs operations under the Hainan Free Trade Port (HFTP) construction program represents China's clear stance against protectionism and is an important step in promoting economic globalization, Chinese economist Huang Hanquan said.
Huang Hanquan, director of the Institute of Macroeconomic Research under the National Development and Reform Commission of China, made remarks during the latest session of the China Economic Roundtable organized by Xinhua News Agency.
Thursday's launch marks a major milestone in the world's second-largest economy's push to open up. This move sends a powerful signal to the world: China has made a significant decision to further expand its opening up, said Huang Hanquan.
According to him, the launch of the independent customs operations regime also aims to create a benchmark for promoting openness at a higher level, giving new impetus to the development of multilateralism and free trade, and promoting inclusive and beneficial economic globalization.
"This is a strategic step aimed at aligning with high-standard international trade and economic rules and steadily expanding institutional openness," noted Huang Hanquan. "This provides China with an important platform for better adapting and implementing international trade and economic rules while actively participating in their development."
Huang Hanquan believes that China's economy has transitioned from rapid growth to high-quality development and is now at a key stage of transforming its development model, optimizing its economic structure, and transforming growth drivers.
He added that as a key pilot site for reform in China, Hainan has an important mission to pave the way and accumulate new experiences for building a high-level socialist market economic system. -0-
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