CHINA Hainan free trade port won't weaken HK's status: Chinese official

CHINA

Hainan free trade port won't weaken HK's status: Chinese official

Xinhua

23:13, June 08, 2020

f40e8a2607614f91a17bd5e7c2c4b630.jpg

Photo: Xinhua

A Chinese official on Monday dismissed concerns that the Hainan free trade port will undermine Hong Kong's status as a global financial, trading and shipping center.

With different orientations and priority industries, Hainan and Hong Kong are more complementary than competitive, Lin Nianxiu, deputy director of the National Development and Reform Commission, said at a press conference.

The construction of the Hainan free-trade port "will not bring shocks to Hong Kong," said Lin, adding that the island province will focus on developing tourism, modern services, and high-tech industries.

"We should give full play to Hainan's rich natural resources, unique geographical location, and its advantages of being backed by an ultra-large domestic market," he said.

The country will work to promote the joint development of Hainan and the Guangdong-Hong Kong-Macao Greater Bay Area and ensure Hong Kong's long-term prosperity and stability, Lin noted.

Last week, Chinese authorities released a master plan for the Hainan free trade port, aiming to build the southern island province into a globally-influential high-level free trade port by the middle of the century.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue