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Enterprises eye business opportunities in Hainan Free Trade Port 2023/4/10 source: Print

Enterprises are eying a myriad of business opportunities offered by the dazzling development of the Hainan Free Trade Port.

China has recently released a master plan to build the island province of Hainan into a globally influential and high-level free trade port by the middle of the century.

Hainan, the host province of the Boao Forum for Asia annual conference, is also expected to be turned into a globally influential tourism and consumption destination by 2035.

On the sidelines of this year's Boao Forum annual conference which concluded Friday, Hainan held the Global Free Trade Ports Development Forum to promote the development opportunities of free trade ports to the world.

Participating entrepreneurs looked into Hainan's future with great confidence, as the province will target the highest levels of opening up while developing the free trade port, thereby breeding infinite business opportunities.

"Artificial intelligence has a bright prospect for development in Hainan, as the province has attracted large enterprises from all over the world to set up their headquarters here. We will definitely consider cooperating with Hainan and fully tap into the policy dividend offered by the province," said Yuan Hui, CEO of Xiao-i Corporation, a cognitive AI enterprise from China.

"Endowed with fine natural conditions and environment, Hainan can attract more people to do research and high-tech jobs here. We hope that Hainan can enjoy better development in the future, especially in the high-tech field," said Fan Zhiyong, Chinese technology company Huawei's vice president.

The construction of the Hainan Free Trade Port got off to a good start with major breakthroughs secured in the process of comprehensive deepening reform and opening up. Up to now, Hainan's growth rate for business entities has remained first in the country for 36 consecutive months.

"As a testing ground, the Hainan FTP also has another big advantage - its preferential policies. I believe that as the construction of the free trade port advances, many policies will be implemented in a faster pace following the independent customs operations throughout Hainan island," said Wang Sheng, president of the National Institute for South China Sea Studies.

"Our institute will launch more projects in Hainan, especially in the fields of big health and high technology, and bring more enterprises to Hainan," said Peng Dan, head of the International Economic Strategy Institute, and a standing committee member of the All-China Youth Federation.

Marking the first entirely offline annual conference of BFA since the COVID-19 outbreak, this year's conference, which lasted for four days in Boao, a coastal town in Hainan, drew about 2,000 delegates from over 50 countries and regions and more than 1,100 journalists from over 170 media organizations from about 40 countries and regions.

Founded in 2001, the BFA is a non-governmental and non-profit international organization committed to promoting regional economic integration and bringing Asian countries closer to their development goals.


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