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  • Beijing Review

    PRIORITY PRACTICES

    Apr 23, 2020 4 minutes
    By Chi Fulin
    Copyedited by Sudeshna Sarkar

    The author is president of the Hainan-based China Institute for Reform and Development

    Under the impact of the novel coronavirus pandemic, Hainan Province must give priority to opening up and institutional innovation to build itself into a free trade port with a new open economic system boasting both Chinese characteristics and international competitiveness.

    Service-oriented economy

    The most pressing task is to make breakthroughs in its transformation into a service-oriented economy. The weak industrial foundation is the main stumbling block in the development of the Hainan Free Trade Port. For example, in 2019, the added value of

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