The Administrative Centre of the Southern Chinese Province of Hainan will become the venue for the Maritime Silk Road Capital Management Financial Forum.

On June, 25 this large scale event will gather the heads of state financial departments and regulators, experts, scientists, representatives of capital management agencies, as well as directors of financial departments of both Chinese and foreign government institutions.

Discussions at the forum will mainly be devoted to the possibilities of developing financial openness and managing the capital of a free trade port.

The list of guests, the portal writes, includes “dozens of managers and experts from across the country.” They will take part in sessions and round tables, which, in particular, will focus on the creation of a regional capital management centre in the city of Haikou.

The current forum will be the fourth one to be held in the southern Chinese province. The Hainan Province authorities have been actively working to establish and promote a pilot free trade zone following Xi Jinping’s April, 2018, announcement.

Hainan Free Trade Zone

On April 13, 2018, Chinese President Xi Jinping declared the creation of a free trade zone on Hainan.

Stimulating Hainan’s economic development is one of China’s key national policy goals, which entails expanding China’s openness and boosting globalisation. According to plan, it will launch the processes of globalisation of the province’s economy and draw foreign investors to Hainan.

It is expected that by 2050, Hainan will become a unique international cluster with an advanced economic system, which includes a free trade zone, best universities campuses, the most advanced scientific laboratories and top-notch business environment.