Shanghai and Hainan strengthen bonds for economic growth

Chen Huaiyu, vice-governor of the Hainan Provincial People's Government, said that deeper links between Shanghai and Hainan are currently being built to set an example for regional cooperation.

During a press conference in Shanghai on Friday, Chen highlighted the ongoing efforts to deepen the cooperation between Shanghai and Hainan. The press conference represents another milestone for Hainan's Free Trade Port initiative, following a similar event in Guangzhou on May 24.

Jiang Jianmin, deputy director of the Publicity Department of the CPC Hainan Provincial Committee, highlighted the free trade port's rapid construction progress. He acknowledged Shanghai's distinction as home to China's first free trade pilot zone and referenced the long history of friendship and exchange between the people of Hainan and Shanghai as the foundation for future collaboration and growth.

The press conference provided detailed explanations of the Hainan Free Trade Port's preferential policies, focusing on tax reduction, creating an open investment environment, and promoting sustainable development. Hainan officials highlighted their province's commitment to enhancing its openness, optimizing policy frameworks, and advancing legal reforms to foster a welcoming environment for individuals, entrepreneurs, and businesses from both domestic and international backgrounds. They invited all interested parties to explore the opportunities available in Hainan and collaborate towards a shared future of prosperity and growth.

Nie Xiaogang, the deputy general manager of Guotai Jun'an Securities, emphasized Hainan's strategic importance to the company. In preparation for the Hainan Free Trade Port's future development, the company plans to establish a subsidiary in Hainan and offer a range of financial services to enterprises based in the port.