The promise of China’s free trade zones – the case of Hainan

Abstract

<jats:sec> <jats:title content-type="abstract-subheading">Purpose</jats:title> <jats:p>This paper is submitted for a special issue of <jats:italic>Asian Education and Development Studies</jats:italic> on the topic of Greater China Development. The purpose of this paper is to explore the challenges and opportunities of developing a free trade zone (FTZ)/free port in China’s Hainan island.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title> <jats:p>Hainan is to be Mainland China’s newest and largest FTZ. However, the experience of the existing Mainland FTZs is not encouraging, their limited, piecemeal reforms attracting little interest from foreign investors. To make a difference and provide a new engine of growth for the Mainland economy, the approach for Hainan needs to be much bolder. Hainan should aim to develop as a free port, a services centre and a financial centre.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Findings</jats:title> <jats:p>Regarding the financial sector development, the opportunity should be taken to experiment with special drawing rights. Hong Kong can provide the exemplar and expertise to jump-start Hainan’s development. To provide critical mass, mutual access should be opened between Hainan and the nine Mainland municipalities of the Greater Bay Area. An inner border will be needed to distinguish the experimental area from the rest of the Mainland, and an outer border to preserve its integrity <jats:italic>vis-à-vis</jats:italic> the international environment.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Originality/value</jats:title> <jats:p>If Hainan can be developed into the China Offshore Centre, it would have the potential to restart the Mainland’s stalled reform process, and to relieve international trade and financial tensions.</jats:p> </jats:sec>

Construction of the Hainan Free Trade Port from the perspective of regional cultural development

“…Dubai is also an important financial center in the Middle East and in the world. All three regions have highly open money markets and capital markets, flawless credit systems, and advanced business cultures (Akhavan, 2017;Peng et al, 2018;Dong et al, 2019;Harrison et al, 2020).…”

Development of Comprehensive Evaluation Model of Free Trade Port Investment under Macroeconomic Support

“…Interest Rate Policy Response in Free Trade Port. Build a theoretical model of investment price fluctuation and interest rate policy response in free trade port and observe the impact of changes in commodity prices on the economic effect of interest rate regulation policy [22,23]. e theoretical model of commodity price fluctuation and interest rate policy response includes total supply equation, total demand equation, and asset price composition equation.…”

Research on the integration and development of student management and ideological and political education in universities based on environmental psychology

“…Therefore, to maintain the high quality of student management activities, the integration of ideology and politics is essential, as well as the active change and innovation of traditional educational methods. The literature [20] emphasizes that student subjects are in a critical period of continuous mental maturity and development, their self-esteem is relatively strong, and they are prone to resistance and rebelliousness. The literature [21] indicates that the current management of the ideological and political theory courses for college students is more problematic in both macro and micro aspects, and the optimization of the ideological and political education activity model should be carried out based on the basic principle of rigidity and flexibility.…”