Xinhua
01 Jun 2020, 22:48 GMT+10
Aerial photo taken on April 11, 2020 shows the expansion project of Haikou Meilan International Airport in Haikou, the capital city of south China's Hainan Province, June 1, 2020 (Xinhua/Guo Cheng)
As the world is trying to close the door amid the COVID-19 epidemic, China is opening it even wider.
HAIKOU, June 1 (Xinhua) -- At this critical juncture when the COVID-19 epidemic is still ravaging the globe, China is opening its door wider to the world instead of trying to close it.
China on Monday announced it will build its island province of Hainan into a free trade port, a move that demonstrates the resolve to contribute to a stable world economy by continuing to advance reform and opening-up, widen market access, improve the business environment and expand imports and outbound investment.
By building a free trade port, Hainan will implement zero tariffs and low taxes, simplify the tax system, and offer special policies in trade, investment, capital flow, visa and entry, transportation, and flow of data, thus becoming a new hub for reform and opening up in China.
It will bring tremendous opportunities to countries across the world. Global companies, either multinationals or small and medium ones, can tap into the Chinese market or expand their market shares in China through Hainan free trade port.
As the coronavirus epidemic continues to deal a body blow to the global economy, it's not easy to overcome external challenges to start development of a free trade port. However, China never wavers in its determination to further open up, and always goes all out to fulfill its promise.
China advocates building a community with a shared future for humanity. No country can isolate itself from the interconnected world. To bolster wider opening-up is what China says and what China does, as always.
For instance, the China International Import Expo, the world's first national-level exhibition dedicated to import, will be held for the third year in Shanghai. More than 1,400 companies have signed up. More countries and overseas companies are sharing China's large cake of the market.
The construction of a free trade port in Hainan is not only China's latest move to expand opening up, but also comes as a confidence booster to the world which is facing economic recession and rising protectionism.
The epidemic will eventually be defeated by mankind, after which globalization is expected to accelerate.
The future lies in openness and win-win cooperation, and China is ready to embrace the world at a new level. ■
Get a daily dose of Professional Autos news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
As UK summers become hotter, with longer periods of high temperature extremes, the impact will reach far beyond personal discomfort,...
Pyongyang sent troops to help repel Ukrainian invasion in western Russia Russian Foreign Minister Sergey Lavrov began his three-day...
DAZHOU, July 12 (Xinhua) -- The main body of a bridge of Xi'an-Chongqing high-speed railway over an expressway linking Yingshan and...
Tirumala (Andhra Pradesh) [India], July 12 (ANI): Union Minister of State for Home Affairs Bandi Sanjay Kumar raised strong objections...
Peshawar [Pakistan], July 12 (ANI): A recent report by the Provincial Inspection Team has shed light on the government's failures in...
Tel Aviv [Israel], July 12 (ANI): Gaza has become the graveyard of children and starving people, UNRWA chief Philippe Lazzarini said,...