LONDON, July 16 (Xinhua) -- By building the pilot free trade zone (FTZ) and free trade port, south China's Hainan province is committed to setting a new benchmark for all-round and deepening reform and opening-up in China, which will create new opportunities for cooperation between Hainan and Britain, Chinese Ambassador to Britain Liu Xiaoming has said.
Liu made the remarks at the 2018 Hainan Free Trade Zone (London) Promotion in the British capital on Friday. He said China is building an upgraded version of an open economy. "That means we are working on a more comprehensive, substantial and diverse structure of opening up."
Hainan was born of reform and has prospered with opening up. The audacious, enterprising and down-to-earth spirit runs in the blood of the people of Hainan, he said. "The building of the pilot free trade zone and free trade port in Hainan could be the new engine to drive business cooperation."
Liu said British people are known for daring to be a pioneer and having keen eyes for opportunities. "I therefore encourage the British businesses to play a leading and active part in building the pilot free trade zone and free trade port in Hainan. I hope you will take your business to Hainan and seize your share of the opportunities."
He said in building the pilot free trade zone, Hainan will concentrate on its natural endowment, give priority to tourism, modern services and hi-tech industries, and build an innovative economy. To be more specific, emerging sectors such as bio-technology, health and medical care, ocean economy and space technology will be the focus of accelerated efforts.
"The UK has considerable strengths and a unique competitive edge in all these sectors. The two sides should strive to match their development strategies and identify the priorities for advancing their cooperation," he said.
He said the Belt and Road Initiative "offers a platform to tap the potential for cooperation".
"Hainan is an important hub on the 21st Century Maritime Silk Road. There is a huge potential for cooperation between Hainan and the countries along the Maritime Silk Road. The areas for such cooperation include agriculture, tourism, environmental protection and 'blue economy'," said the ambassador.
"The UK, with rich expertise in finance, legal affairs, consultancy and management, could provide the services needed in specific projects. This will in turn contribute to the overall cooperation between China and the UK on the Belt and Road Initiative."
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