Latest news with #LiuXiaoming
Korea Herald
26-05-2025
- Business
- Korea Herald
RCEP set to help stabilize global trading system
HAIKOU, China, May 26, 2025 /PRNewswire/ -- The advancement of the Regional Comprehensive Economic Partnership agreement to a higher level and toward broader coverage will bolster economic growth in the Asia-Pacific region and help stabilize a fracturing world trade system, officials and experts said on Sunday. The mega trade pact, covering 30 percent of the world's total population and economic output, should play an even more significant role in championing free trade and mutual benefits as headwinds buffet the global economy, they said at the 2025 RCEP Media and Think Tank Forum held in Haikou, Hainan province. The forum, themed "Jointly Building High-Level and Largest Free Trade Area", was organized by China Daily, the China Institute for Reform and Development and the China Oceanic Development Foundation. "Unilateral protectionism and hegemonic bullying are wreaking havoc worldwide," said Hainan Governor Liu Xiaoming. "Yet the RCEP is injecting robust momentum into the economic integration of the Asia-Pacific, presenting member states with new market opportunities and bolstering the international community's confidence in multilateralism." Hainan, as a free trade port, will fully leverage its existing policies to integrate with the rules of the RCEP, Liu said, adding that the province will turn itself into a crucial hub that facilitates market connectivity, production factor mobility, rule coordination and industrial chain cooperation between China and other RCEP member economies. "In the face of an increasingly uncertain and volatile global landscape, the steady progress of RCEP implementation has become even more precious," said Qu Yingpu, publisher and editor-in-chief of China Daily. "Redoubling our efforts to push forward regional integration and economic globalization is essential for shaping a community with a shared future for mankind," Qu said, adding that the RCEP member economies should work together to build a regional community for scientific and technological innovation. Harnessing the synergies of artificial intelligence-enabled joint research and cooperative networks among RCEP members will greatly enhance the collective capacity for innovation and smart development, he said. The RCEP — the world's largest free trade pact, which is aimed at gradually eliminating tariffs on over 90 percent of goods traded among its 15 members — serves as a critical counterweight to the United States' blanket tariff hikes targeting global economies. Last year, the total trade volume among RCEP members reached $5.7 trillion, up 2.5 percent year-on-year, according to a report released at the forum. China, as a key player of the RCEP, has been making cutting-edge AI capabilities available both domestically and globally, with DeepSeek, a cost-effective and open-source large language model developed at a mere fraction of the cost of comparable US models, being a prime example. "Looking ahead, an RCEP with higher standards, a broader scope and more inclusive development will surely inject certainty into the global economy," said Chi Fulin, president of the China Institute for Reform and Development. At present, the RCEP comprises the 10 member states of the Association of Southeast Asian Nations, as well as China, Japan, South Korea, Australia and New Zealand. China's Hong Kong Special Administrative Region, Sri Lanka and Chile have submitted applications seeking accession to the RCEP. Chi said that Hong Kong's accession would not only boost growth of regional trade, but also drive regional financial development and enhance the internationalization of regional industries. If Chile joins the group, it would mark an upgrade of the RCEP from a purely regional arrangement to a cross-regional one, he added. Secretary-General of ASEAN Kao Kim Hourn said, "The growing interest from potential applicant countries and regions represents a powerful testament to our commitment to maintaining an open and inclusive agreement." He added that relevant parties are working diligently to finalize the details of the accession process as expeditiously as possible. Meanwhile, the full completion of negotiations on the Version 3.0 China-ASEAN Free Trade Area and the accelerating negotiations for the China-Japan-South Korea Free Trade Agreement are also converging to open up more opportunities for regional growth. Lyu Bin, president of the China Oceanic Development Foundation, called for efforts to construct a platform for cooperation on the blue, or marine economy, helping RCEP member nations to identify their comparative resource advantages and optimize the layout of their marine industries.
Yahoo
26-05-2025
- Business
- Yahoo
RCEP set to help stabilize global trading system
HAIKOU, China, May 25, 2025 /PRNewswire/ -- The advancement of the Regional Comprehensive Economic Partnership agreement to a higher level and toward broader coverage will bolster economic growth in the Asia-Pacific region and help stabilize a fracturing world trade system, officials and experts said on Sunday. The mega trade pact, covering 30 percent of the world's total population and economic output, should play an even more significant role in championing free trade and mutual benefits as headwinds buffet the global economy, they said at the 2025 RCEP Media and Think Tank Forum held in Haikou, Hainan province. The forum, themed "Jointly Building High-Level and Largest Free Trade Area", was organized by China Daily, the China Institute for Reform and Development and the China Oceanic Development Foundation. "Unilateral protectionism and hegemonic bullying are wreaking havoc worldwide," said Hainan Governor Liu Xiaoming. "Yet the RCEP is injecting robust momentum into the economic integration of the Asia-Pacific, presenting member states with new market opportunities and bolstering the international community's confidence in multilateralism." Hainan, as a free trade port, will fully leverage its existing policies to integrate with the rules of the RCEP, Liu said, adding that the province will turn itself into a crucial hub that facilitates market connectivity, production factor mobility, rule coordination and industrial chain cooperation between China and other RCEP member economies. "In the face of an increasingly uncertain and volatile global landscape, the steady progress of RCEP implementation has become even more precious," said Qu Yingpu, publisher and editor-in-chief of China Daily. "Redoubling our efforts to push forward regional integration and economic globalization is essential for shaping a community with a shared future for mankind," Qu said, adding that the RCEP member economies should work together to build a regional community for scientific and technological innovation. Harnessing the synergies of artificial intelligence-enabled joint research and cooperative networks among RCEP members will greatly enhance the collective capacity for innovation and smart development, he said. The RCEP — the world's largest free trade pact, which is aimed at gradually eliminating tariffs on over 90 percent of goods traded among its 15 members — serves as a critical counterweight to the United States' blanket tariff hikes targeting global economies. Last year, the total trade volume among RCEP members reached $5.7 trillion, up 2.5 percent year-on-year, according to a report released at the forum. China, as a key player of the RCEP, has been making cutting-edge AI capabilities available both domestically and globally, with DeepSeek, a cost-effective and open-source large language model developed at a mere fraction of the cost of comparable US models, being a prime example. "Looking ahead, an RCEP with higher standards, a broader scope and more inclusive development will surely inject certainty into the global economy," said Chi Fulin, president of the China Institute for Reform and Development. At present, the RCEP comprises the 10 member states of the Association of Southeast Asian Nations, as well as China, Japan, South Korea, Australia and New Zealand. China's Hong Kong Special Administrative Region, Sri Lanka and Chile have submitted applications seeking accession to the RCEP. Chi said that Hong Kong's accession would not only boost growth of regional trade, but also drive regional financial development and enhance the internationalization of regional industries. If Chile joins the group, it would mark an upgrade of the RCEP from a purely regional arrangement to a cross-regional one, he added. Secretary-General of ASEAN Kao Kim Hourn said, "The growing interest from potential applicant countries and regions represents a powerful testament to our commitment to maintaining an open and inclusive agreement." He added that relevant parties are working diligently to finalize the details of the accession process as expeditiously as possible. Meanwhile, the full completion of negotiations on the Version 3.0 China-ASEAN Free Trade Area and the accelerating negotiations for the China-Japan-South Korea Free Trade Agreement are also converging to open up more opportunities for regional growth. Lyu Bin, president of the China Oceanic Development Foundation, called for efforts to construct a platform for cooperation on the blue, or marine economy, helping RCEP member nations to identify their comparative resource advantages and optimize the layout of their marine industries. View original content to download multimedia: SOURCE China Daily Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
11-03-2025
- Business
- Associated Press
CGTN: Hainan's Message to the World: CGTN's Exclusive Interview with Governor Liu Xiaoming
BEIJING, March 11, 2025 /CNW/ -- A Historic Milestone for Hainan The Hainan Free Trade Port (Hainan FTP) is approaching a historic milestone with the implementation of independent customs operations, a key objective outlined in the Master Plan for Building the Hainan Free Trade Port. This achievement marks a fundamental and symbolic step in Hainan's ongoing development, as the initiative has been written into the provincial government work report for seven consecutive years. Chinese President Xi Jinping has emphasized the importance of this initiative, stressing the need for a smooth, orderly, and risk-free transition. In an exclusive interview with CGTN's Liu Xin, Mr. Liu Xiaoming, Governor of the Hainan Province, confirmed that preparations are well underway to ensure a smooth and successful transition before the end of the year. Contrary to misconceptions about isolation, the customs framework follows a 'front line open, second line controlled, and free movement within' model. This structure facilitates international trade while maintaining necessary regulatory oversight between Hainan and the mainland. 'Progress has been smooth, with five major systems – policy, infrastructure, risk control, industry, and organizational support – gradually taking shape,' said Mr. Liu. 'We are ready.' A Business Environment Open to the World Beyond customs operations, Hainan is committed to enhancing its business environment, recognizing it as a 'golden ticket' to success. Efforts have been made to develop a market-oriented, law-based, and globalized business environment. Hainan has taken a national lead in streamlining government services, introducing a one-stop enterprise service platform with smart policy matching, credit repair, and regulatory support. Foreign enterprises registered in Hainan enjoy equal access to these services. Addressing concerns about foreign investors' experiences in Hainan, Liu Xiaoming emphasized the importance of improving internet access and payment convenience. Policies have been implemented to facilitate smoother transactions and daily life for foreign businesses and residents. Strategic Industries Driving Growth The province has focused on four key industries: tourism, modern services, high-tech industries, and tropical agriculture. The combined share of these sectors in Hainan's economy has increased from 52.4% in 2018 to 67% in 2023. Additionally, Hainan has embraced five strategic directions: agriculture, maritime, aerospace, green development, and the digital economy. Maritime development, in particular, stands out as a priority. 'Harnessing the power of the ocean' is a key initiative for Hainan, which oversees about 2 million square kilometers of ocean, mostly deep sea. With nearly 1,000 enterprises and research institutions already engaged in deep-sea technology and marine industries, Hainan's maritime economy has maintained double-digit growth, contributing to over one-third of the province's GDP. Plans are underway to further expand deep-sea energy, high-end equipment manufacturing, offshore aquaculture, marine biomedicine, and maritime tourism. 'Our goal is to create a 'new Hainan on the sea' within the next decade,' Liu Xiaoming stated. Leading the Way in Green Development In addition to economic development, environmental sustainability remains a top priority. Hainan is recognized as having the best ecological environment in China. A prime example of Hainan's green initiatives is the Bo'ao near-zero carbon demonstration zone. Through energy-efficient building renovations, renewable energy replacements, and agro-photovoltaic systems, carbon emissions on Dongyu Island, a permanent site for the Bo'ao Forum for Asia, have been reduced by 96.2%. The German Energy Agency has certified this as China's first regional near-zero carbon demonstration zone. With independent customs operations on the horizon, ever-improving business environment, strategic industrial development, and firm ecological commitments, Hainan is poised to become a global leader in trade, innovation, and sustainability. The Free Trade Port's future promises dynamic growth and increased international engagement, ensuring that its development aligns with both national goals and global economic trends.
Yahoo
11-03-2025
- Business
- Yahoo
CGTN: Hainan's Message to the World: CGTN's Exclusive Interview with Governor Liu Xiaoming
BEIJING, March 11, 2025 /CNW/ -- A Historic Milestone for Hainan The Hainan Free Trade Port (Hainan FTP) is approaching a historic milestone with the implementation of independent customs operations, a key objective outlined in the Master Plan for Building the Hainan Free Trade Port. This achievement marks a fundamental and symbolic step in Hainan's ongoing development, as the initiative has been written into the provincial government work report for seven consecutive years. Chinese President Xi Jinping has emphasized the importance of this initiative, stressing the need for a smooth, orderly, and risk-free transition. In an exclusive interview with CGTN's Liu Xin, Mr. Liu Xiaoming, Governor of the Hainan Province, confirmed that preparations are well underway to ensure a smooth and successful transition before the end of the year. Contrary to misconceptions about isolation, the customs framework follows a "front line open, second line controlled, and free movement within" model. This structure facilitates international trade while maintaining necessary regulatory oversight between Hainan and the mainland. "Progress has been smooth, with five major systems – policy, infrastructure, risk control, industry, and organizational support – gradually taking shape," said Mr. Liu. "We are ready." A Business Environment Open to the World Beyond customs operations, Hainan is committed to enhancing its business environment, recognizing it as a "golden ticket" to success. Efforts have been made to develop a market-oriented, law-based, and globalized business environment. Hainan has taken a national lead in streamlining government services, introducing a one-stop enterprise service platform with smart policy matching, credit repair, and regulatory support. Foreign enterprises registered in Hainan enjoy equal access to these services. Addressing concerns about foreign investors' experiences in Hainan, Liu Xiaoming emphasized the importance of improving internet access and payment convenience. Policies have been implemented to facilitate smoother transactions and daily life for foreign businesses and residents. Strategic Industries Driving Growth The province has focused on four key industries: tourism, modern services, high-tech industries, and tropical agriculture. The combined share of these sectors in Hainan's economy has increased from 52.4% in 2018 to 67% in 2023. Additionally, Hainan has embraced five strategic directions: agriculture, maritime, aerospace, green development, and the digital economy. Maritime development, in particular, stands out as a priority. "Harnessing the power of the ocean" is a key initiative for Hainan, which oversees about 2 million square kilometers of ocean, mostly deep sea. With nearly 1,000 enterprises and research institutions already engaged in deep-sea technology and marine industries, Hainan's maritime economy has maintained double-digit growth, contributing to over one-third of the province's GDP. Plans are underway to further expand deep-sea energy, high-end equipment manufacturing, offshore aquaculture, marine biomedicine, and maritime tourism. "Our goal is to create a 'new Hainan on the sea' within the next decade," Liu Xiaoming stated. Leading the Way in Green Development In addition to economic development, environmental sustainability remains a top priority. Hainan is recognized as having the best ecological environment in China. A prime example of Hainan's green initiatives is the Bo'ao near-zero carbon demonstration zone. Through energy-efficient building renovations, renewable energy replacements, and agro-photovoltaic systems, carbon emissions on Dongyu Island, a permanent site for the Bo'ao Forum for Asia, have been reduced by 96.2%. The German Energy Agency has certified this as China's first regional near-zero carbon demonstration zone. With independent customs operations on the horizon, ever-improving business environment, strategic industrial development, and firm ecological commitments, Hainan is poised to become a global leader in trade, innovation, and sustainability. The Free Trade Port's future promises dynamic growth and increased international engagement, ensuring that its development aligns with both national goals and global economic trends. View original content to download multimedia: SOURCE CGTN View original content to download multimedia:
