Why High-Standard Opening Is Key for Future Growth 🚀
As the Chinese mainland wraps up its 14th Five-Year Plan (2020-2025) and gears up for the 15th Five-Year Plan (2025-2030), one thing is clear: opening up with high standards is central to its modernization journey. From tropical Hainan Province to tech hub Guangdong Province, this strategy is sparking fresh economic energy. 💡
Hainan FTP: Island-Level Free Trade Magic 🌴
On December 18, Hainan Free Trade Port (FTP) went island-wide with special customs operations. Chinese President Xi Jinping says this is a major milestone for the Chinese mainland's high-standard opening up and its open economy drive. Through streamlined customs, more free flows of goods and talent are boosting tourism, modern services, high-tech and tropical agriculture—sectors that now make up nearly 70% of Hainan's GDP. 👏
Since 2018, Hainan Province has welcomed over 70,000 high-level professionals and rolled out 80+ local laws to refine its business climate. And it is not just about local growth—new shipping routes link Hainan tilapia to South America and bring Peruvian avocados to the mainland faster and cheaper. That is trade 2.0! 🛳️🥑
Guangdong Province: Reform Trailblazer and Greater Bay Powerhouse 🌉
For his first inspection trip after the 20th CPC Central Committee plenary, Xi highlighted Guangdong Province as a pacesetter in reform and opening up, shaping the road to the 15th Five-Year Plan. He urged deeper system reforms, stronger tech-industrial integration and an ultra-competitive industrial system. 🔧🤖
Guangdong's numbers tell the story: by 2024, foreign trade hit 9.11 trillion yuan (up 9.8%), driving nearly 39% of the Chinese mainland's trade growth. New overseas-funded firms jumped 33.7%, topping 360,000 enterprises and over $600 billion in invested capital. At a major Guangdong-Hong Kong-Macao Greater Bay Area investment conference, 1,933 projects worth 2.26 trillion yuan were signed by global brands. Talk about global vibes! 💼🌐
Looking Ahead: High-Quality Development All the Way
With the 15th Five-Year Plan on the horizon, the Chinese mainland is doubling down on high-standard opening up as the engine for high-quality development. For young pros and digital natives in South and Southeast Asia, this means more cross-border opportunities, fresh tech collaborations and a more connected regional marketplace. Stay tuned—big things are coming! 🌏✨
Reference(s):
How China's high-standard opening up fuels high-quality development
cgtn.com
