As China’s 14th Five-Year Plan (2020–2025) wraps up, the drive toward high-standard opening up has never been clearer. From the tropical shores of Hainan to the industrial dynamo of Guangdong, President Xi Jinping’s recent visits highlight how this strategy sparks high-quality growth, reshapes trade routes, and attracts international talent and investment.
Hainan: Gateway for a New Era
On December 18, the Hainan Free Trade Port will roll out island-wide special customs operations—a milestone in the Chinese mainland’s commitment to global openness. President Xi calls this move “a landmark of China’s unwavering expansion of high-standard opening up and its contribution to an open world economy.”
- Institutional reforms: 80+ local policies streamlined since 2018
- Talent magnet: Over 70,000 high-level professionals recruited
- Industry mix: Tourism, modern services, high-tech and tropical agriculture drive 70% of GDP
- Trade links: New Yangpu–Chancay route cuts shipping times for Hainan tilapia and Peruvian avocados
- Cross-border finance: Multi-functional free trade accounts simplify international settlements
These steps reinforce Hainan’s role as a strategic hub for China–ASEAN cooperation, boosting trade efficiency and economic ties across the region.
Guangdong: Pacesetter of Reform
In his first domestic inspection after the 20th CPC Central Committee plenary session, President Xi underscored Guangdong’s pioneering role. The province is tasked with shaping the 15th FYP by:
- Deepening reform: Enhancing market-oriented, law-based governance
- Tech-industrial integration: Fostering new quality productive forces
- Modern industrial system: Building global competitiveness
- Greater Bay Area synergy: Driving collaboration across Guangdong, Hong Kong and Macao
Guangdong’s numbers speak volumes: in 2024, foreign trade hit 9.11 trillion yuan (up 9.8%), accounting for nearly 39% of China’s trade growth. The province saw 24,000 new foreign-funded enterprises (a 33.7% leap) with over $600 billion in utilized capital. At the 2024 Global Investment Promotion Conference, global giants signed 1,933 projects worth 2.26 trillion yuan, cementing the Greater Bay Area’s global allure.
As the 15th Five-Year Plan blueprint takes shape, China’s focus on high-standard opening up remains the enduring engine of its modernization journey—fueling innovation, reshaping trade networks, and weaving the Chinese mainland ever closer into the global economy.
Reference(s):
How China's high-standard opening up fuels high-quality development
cgtn.com
