#China #Guangdong #Beijing #Hainan

Introduction

China is gearing up for major advancements as it approaches the end of its 14th Five-Year Plan (FYP) and prepares to reveal the goals and strategies for the upcoming 15th FYP. A primary focus during this transition is the concept of high-standard opening up, a strategic initiative meant to drive high-quality development throughout the country. CGTN has highlighted this vision particularly through the lens of President Xi Jinping's visits to two key provinces: Hainan and Guangdong.

Hainan: The New Gateway for Opportunities

Hainan Province is poised to play a crucial role in this vision. Set to implement special customs operations across the island on December 18, Hainan is positioned as a significant Free Trade Port (FTP). President Xi has noted this development as a significant milestone that demonstrates China's ongoing commitment to expanding its high-standard opening variable. The FTP is not just a project designed for provincial growth; it aligns with China's broader agenda to participate in a more open global economy.

Xi emphasized that Hainan's strategic positioning is vital not only for its local development but also for strengthening its connectivity with global markets. To support this, Hainan has proactively identified and attracted over 70,000 high-level professionals and enacted more than 80 local regulations to cultivate a favorable business environment. Industries such as tourism, modern services, high-tech, and tropical agriculture are the cornerstones of Hainan's economy, collectively making up nearly 70% of its Gross Domestic Product (GDP).

Moreover, the introduction of the Yangpu-Chancay shipping route exemplifies Hainan's role in fortifying global trade networks. This new route benefits not only Hainan's trade by allowing faster delivery of local products like tilapia to South America but also enhances the import of goods such as avocados from Peru to China. The implementation of multi-functional accounts simplifies cross-border transactions, promoting economic interactions with ASEAN countries, thereby consolidating Hainan as a strategic hub.

Guangdong: The Pioneer of Reform

Moving to Guangdong, President Xi's first inspection following the CPC Central Committee’s fourth plenary session has reiterated the province's pivotal role as a forerunner of reform and opening-up initiatives. It is positioned to act as a pilot zone that catalyzes national policies, playing an instrumental role in shaping the 15th FYP.

Xi called for Guangdong to deepen reform measures comprehensively while advancing the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). He highlighted the need for the province to foster innovative productive forces, merge technological advancements with industrial innovation, and establish an internationally competitive industrial framework.

Guangdong's economic vibrance is a testament to this vision, with its foreign trade soaring to 9.11 trillion yuan in 2024, contributing nearly 39% to China's overall trade growth. Between January and September of that year alone, the province welcomed 24,000 new foreign-funded enterprises, marking a significant 33.7% year-on-year increase.

Events like the 2024 Global Investment Promotion Conference showcased Guangdong’s appeal to international investors, leading to partnerships with major companies such as BASF, ExxonMobil, and Tesla, resulting in projects valued at 2.26 trillion yuan. This is a clear indication that Guangdong is indeed a global investment magnet.

Conclusion

As the nation looks toward its 15th FYP, the integration of high-standard opening policies remains central to China's modernization efforts. Hainan and Guangdong are not merely provincial projects; they are illustrative of a larger narrative that emphasizes reform as a continuous, evolving process. With steadfast commitment, China is reinforcing its stance as a reliable player in global trade dynamics, demonstrating a persistent trajectory toward high-quality development.