China has decided to set up an investment fund to support Hainan's development of a free trade port, according to a document unveiled Saturday.

China aims to "basically establish" free trade port system in Hainan by 2025 and make the free trade port system and operational mode "more mature" by 2035.

(Photo: VCG)

A free trade port is the world's most open form of economic zone, which has brought prosperity to places like Singapore and Hong Kong thanks to its broad-based preferential policies on trade and investment.

The guidelines on supporting Hainan's efforts to deepen reform and opening up were jointly released by the Central Committee of the Communist Party of China and the State Council.