Hainan, as a free trade port, should stimulate the flow of capital, information and technology to boost the development of its service sectors, in addition to attracting tourists from home and abroad, said Sang Baichuan, head of Institute of International Economy of UIBE, told the Topics in Focus, a CCTV prime-time news interview program on May 16.
The Central government has laid out a plan for the island to make it a new example of comprehensively deepening reform and opening-up in the new era. "More people will flock to Hainan as driven by free trade policies and the island will become a new center of innovation, including cultural innovation industries and research and development in science and technology," said Sang.
Sang has suggested Hainan reform its tax collection policies and system, as well as its customs administration rules and regulations for customs-clearance facilitation by making bold trials in these fields.
He said, "Hainan can develop some high-level universities to attract good scholars and students, which will generate spillover effects in knowledge and more talents will come to Hainan." (Li Yang)