"This is a significant opening-up policy and action, and the proactive move will help promote economic globalization," said Chi.
"The major breakthrough marks a further transition from policy-oriented to system-oriented opening-up," he said.
In his keynote speech at the opening of the Boao Forum for Asia Annual Conference Tuesday, Xi said China will translate the major initiatives of opening-up into reality, sooner rather than later, and wants the outcomes of the opening-up efforts to deliver benefits as soon as possible to all enterprises and people in China and around the world.
Wu Shicun, president of the National Institute for South China Sea Studies, said the new opening-up policy in Hainan will bring about substantial progress in Belt and Road construction and boost regional economic cooperation and integration between China and relevant countries.
"Hainan will be a key bridge connecting the countries surrounding the South China Sea and the Asia-Pacific region with the Chinese market," said Wu.
The province will form a complementary relationship with other free trade zones and ports, thus achieving mutual benefits and win-win results, he added.
"The South China Sea will be a sea of friendship and peace," Wu said.
With a land area of only 35,400 square kilometers, Hainan administers two-thirds of China's sea areas and is an important link on the 21st Century Maritime Silk Road.
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