Photo: Chinese Foreign Ministry spokesperson Lin Jian

China's door is to open wider, bringing more development opportunities, and the country will continue to inject new momentum into promoting global common prosperity, Lin Jian, a spokesperson for the Foreign Ministry, told a press conference in Beijing on Tuesday.

Lin made the remarks as China recently launched island-wide special customs operations in the Hainan Free Trade Port (FTP). Comments around the globe say this move is the latest demonstration of China's institutional opening up, and builds a bridge between the global market and the great domestic demand in China, and, the launch of the Hainan FTP will bring new opportunities for other countries, making it attractive within the Asia Pacific and for other regions as well.

In response, Lin said that, from the establishment of Hainan special economic zone to the most recent launch of island-wide special customs operations in the Hainan Free Trade Port, Hainan has left a deep mark in the course of China's reform and opening-up.

To "develop the Hainan Free Trade Port to high standards" is written into the Recommendations of the Central Committee of the CPC for Formulating the 15th Five-Year Plan for National Economic and Social Development adopted at the fourth plenary session, Lin said, "we are convinced that Hainan FTP will become an important gateway of China's high-standard opening up."

In the face of growing uncertainties in global economy, China's response is to deliver its commitment of opening up with concrete actions, to fight protectionism with firm resolve, and promote an open world economy, the spokesperson said. 

China's negative list for foreign investment access has shrunk, restrictions of access for the manufacturing sector has been brought down to naught, zero-tariff treatment for 100 percent tariff lines has been granted to all LDCs that have diplomatic ties with China, and visa-free policy and visa-free transit have been upgraded, said Lin.

From January to November, China has established over 60,000 new foreign-invested companies, up by 16.9 percent year-on-year, and total trade volume of goods has exceeded RMB 41 trillion yuan, up by 3.6 percent year-on-year, Lin said.

China has continued to step up the width and depth of its opening up, to be a stronger magnet for foreign markets and to demonstrate the resilience and vitality in trade, Lin said, adding that the recent Central Economic Work Conference has identified staying committed to opening up and promoting win-win cooperation in various areas as one of the major tasks for next year.

Foreign companies are optimistic about the development prospect in the FTP. 

For instance, global delivery services firm FedEx said it maintains high confidence in the Chinese market. "China is one of the core engines of global trade and plays a key role in our global strategy. We are greatly encouraged by the launch of [special customs operations] in the Hainan FTP, which underscores China's unwavering commitment to high-level opening-up," Poh-Yian Koh, president of FedEx China, said in a note sent to the Global Times.

Global Times