China's High-Standard Cooperation: A Key to Quality Development Growth

President Xi Jinping’s recent visits to Hainan and Guangdong provinces underscore China's strategic pivot towards high-standard cooperation, aimed at fostering quality development. As the country approaches the conclusion of its 14th Five-Year Plan and prepares for the next, the commitment to open cooperation takes center stage in China's modernization ambitions.

During his tours, Xi articulated a vision in which high-standard cooperation serves as a means to achieving sustainable economic growth. The Hainan Free Trade Port (FTP) was inaugurated in December 2025, marking a significant milestone in China’s ongoing efforts to broaden its cooperation framework. Xi described this as a crucial step in reinforcing the country's contributions to a globally open economy.

In Sanya, while receiving a report on the FTP's construction, Xi emphasized that the port not only propels Hainan's high-quality development but also aligns with a broader paradigm shift in China’s growth model. He called for institutional openings, more accessible talent acquisition systems, and administrative reforms to cultivate a business environment that is both market-oriented and rule-based, thereby enhancing global competitiveness.

Since 2018, Hainan has attracted over 70,000 high-skilled professionals and introduced more than 80 local regulations to facilitate business. This proactive approach has led to tourism, modern services, high technology, and tropical agriculture accounting for nearly 70% of the province's GDP.

The positive effects of Hainan's opening on global trade are evident with new shipping routes enhancing trade efficiency — allowing for faster exports of tilapia to South America and cheaper imports of fresh avocados from Peru. Moreover, the introduction of multifunctional duty-free accounts streamlines cross-border transactions. According to Kuang Xianming, Vice President of the Chinese Institute for Reform and Development, these customs operations bolster Hainan’s role as a strategic hub for China-ASEAN cooperation.

Guangdong: A Leader in Reform and Open Cooperation

Guangdong, designated by Xi as the first national inspection site following the fourth plenary session of the 20th Central Committee of the Communist Party of China, plays a pivotal role in shaping China’s cooperative strategy. Xi urged Guangdong to set benchmarks, lead by example, and be instrumental in crafting the 15th Five-Year Plan for China’s economic and social development.

He urged the province to deepen reforms comprehensively, prioritizing high-quality development while sustainably supporting the development of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA). Furthermore, Xi encouraged the province to foster innovative production capacities, enhance technology-industry integration, and establish a competitive modern industrial system.

The economic vitality of Guangdong exemplifies this vision; in 2024, the province’s foreign trade reached 9.11 trillion yuan (approximately $1.3 trillion), marking a 9.8% year-on-year increase and accounting for nearly 39% of China’s overall trade growth. Between January and September, nearly 24,000 new foreign-funded enterprises were established, reflecting a staggering 33.7% increase year-on-year. This trend indicates that the total number of companies has surpassed 360,000, attracting over $600 billion in utilized foreign capital.

At the 2024 Global Investment Promotion Conference for the GBA, multinational giants including BASF, ExxonMobil, Pfizer, Panasonic, Tesla, and Procter & Gamble signed off on projects totaling 2.26 trillion yuan — highlighting the GBA's allure for international investors.

Faced with the upcoming 15th Five-Year Plan, China confirms that its reform and open cooperation approach is not merely a chapter in the past but a steadfast engine propelling the nation's future growth.