STORY HIGHLIGHTS


Experts on China's new free trade port

CNC
Added On April 16, 2018

Chinese President Xi Jinping has announced a decision to develop the island of Hainan into a pilot free trade zone.

 
The announcement came on Friday at a gathering marking the 30th anniversary of the founding of Hainan Province and the Hainan Special Economic Zone.
 
CNC has talked with overseas experts and let's see their views on the move.
 
Liu Di, a professor at Kyorin University in Tokyo, sees the move as a new economic reform measure which would set a new model in the country.
 
SOUNDBITE(CHINESE): LIU DI, Professor of Kyorin University
"I think this policy is a new development for China's 40 years of reform and opening-up. China has taken both gradual and bold steps in carrying out the reforms. For example, China set up four experimental Special Economic Zones in the coastal cities including Shenzhen and Zhuhai. They provided good examples for later reforms. This time, we set a province as a pilot free trade zone and probably, we could popularize the experiences to the other parts of China and achieve very good results like before."
 
A free trade port is the world's most open form of economic zone. 
 
Many experts have hailed China's economic reforms and further opening-up of its market to the outside world.
 
SOUNDBITE3 (ENGLISH): AJAY SAHAI, Director General, Federation of Indian Exports Organization
"((DELETE In fact China is a very important market for us. Unfortunately China is in the picture because our trade deficit with China is increasing.
There are couple of issues on the market access also but Chinese Commerce Minister also was here and they have given us assurance that they will look into the issue of market access, so that Indian products also get access in China.)) We personally put lot of hope on China."
 
"((DELETE We feel that we need to be very aggressive in China. FIEO (Federation of Indian Export Organisations) as an organisation is definitely very active in China. We are the sole-selling agents at ‘Canton fair’. We participated in Chengdu. We participated in Qinghua. We participated in Kunming also. Recently only the government has decided that there will be large scale participation for (upcoming) Shanghai Import Expo. We are also as FIEO participating (in that expo).)) I think Indian exporters should not look China as a threat, they should look China as a market. And since China has a huge market, if Indian products just show their prowess in these markets, I think business will definitely come to India."
 
SOUNDBITE(BAHASA INDONESIA): DJAUHARI ORATMANGUN, Indonesian Ambassador for China
"I think China's reform and opening-up policy have delivered extraordinary results, now China has already become one of the global economic superpowers. Chinese people's prosperity and quality of live have been greatly improved, they benefit immensely from this policy and therefore the policy is highly appreciated and welcomed by Chinese people."