Hainan FTZ part of new opening-up paradigm

Since the beginning of 2020, President Xi Jinping has been emphasizing the need to foster a new development paradigm in which the domestic market plays the main role, and the domestic and world markets complement each other, in order to ensure sustainable development. And as part of the new "dual circulation" development paradigm, the island province of Hainan is integrating the construction of its free trade port into the country's overall development plan based on its actual conditions. The new "dual circulation" development paradigm is based on "internal circulation" and aimed at integrating internal circulation with "external circulation" to develop new advantages for China in the global market, while the Hainan free trade port is designed to promote China's further opening-up in the new era. The signing of the Regional Comprehensive Economic Partnership agreement a few weeks ago has created new development opportunities for the Hainan free trade port and will help the province use its geographical and policy advantages. Hainan will also strive to address the thorny development issues through institutional integration and innovation, as well as by studying ways to establish branches of public hospitals, promoting medical reform such as separating medicine sales from medical treatment, and expediting the implementation of the free trade port policies, so as to create a model project to integrate Hainan's development plan into the country's new development paradigm.