CMG:

Hainan has set its regional GDP growth target at around 8% for this year, which is relatively high compared to the national average. What measures will Hainan implement to achieve this ambitious goal? Thank you.

Liu Xiaoming:

Thank you for your question. I will answer this question. Hainan province has set a GDP growth target of about 8% this year. This is a proactive development goal we set based on in-depth research, taking into account what is needed and what is possible, as well as the present and the future. At present, we are pooling resources to carry out critical tasks on the following seven areas, including preparations for independent customs operations , enhancing investment expansion and efficiency, upgrading international tourism and consumption, reinforcing and upgrading weak links in the industrial chains , enhancing the overall business environment, ensuring financial stability while fostering expansion and quality improvement, and achieving a steady increase with improved quality in foreign trade and investment. We will vigorously improve government efficiency to ensure that predetermined goals can be achieved.

Based on the economic data in the first quarter, Hainan’s economy is functioning soundly, continuing its upward trend. We will focus on both the real economy and the facilitation of capital and personnel flow, continuously enhancing economic vitality.

In terms of the real economy, we will strengthen the stability of our industrial pillars. This year, we will continue to reinforce and upgrade weak links in industrial chains, accelerate development alignment with the Guangdong-Hong Kong-Macao Greater Bay Area, promote interplay and industrial cooperation with the national strategy of the development of the Yangtze River Delta and coordinated development of the Beijing-Tianjin-Hebei Region, and promote the implementation of a new round of key industrial projects. On Feb. 27, the world's largest wind turbine blade officially rolled off the production line in Hainan. The swept area of this blade is equivalent to 9.4 standard football fields, demonstrating that Hainan now has the manufacturing capacity for ultra-large wind turbine components. This is also a microcosm of Hainan's efforts to promote the development of advanced manufacturing.

On the other hand, we aim to facilitate the capital and personnel flow at the FTP. Currently, we mainly focus on the following two aspects. The first is foreign trade and investment. This year, we will fully implement a new negative list for foreign investment at the Hainan FTP, establish and operate a multi-functional free trade account, upgrade the single window for international trade, and vigorously develop new business models such as cross-border e-commerce, overseas warehousing, offshore trade, and digital trade, and attract more international inflows of goods and capital with freer and more convenient trade and investment . The second is tourism and consumption. In the first quarter, the number of tourists received by Hainan and its total tourism revenue are expected to increase by 17.6% and 32.3%, respectively, with inbound tourism quadrupling compared to the same period of last year. Next, we will continue to work on winning back customers in three major areas, create special consumption scenarios such as "tourism + performing arts" and "tourism + sports," host the fourth China International Consumer Products Expo, and plan a series of major cultural tourism projects based on Hainan’s round-the-island tourist highway and the Hainan Tropical Rainforest National Park. For inbound tourists, we will make full use of the visa-free policy covering 59 countries, and introduce more entry facilitation measures. For example, we are about to launch a "Hainan wallet," which will enable inbound tourists to convert foreign currencies into electronic RMB on their mobile phones upon arrival in Hainan. They can use the electronic RMB anywhere they can use China's mobile payment system such as Alipay or WeChat.

I would like to add one more thing here. Hainan’s tourism is improving continuously, but there are still some bottlenecks. For example, during peak tourist seasons, vehicles crossing the Qiongzhou Strait experience congestion, economy air tickets are difficult to obtain, and there are still occasional service disputes. We are doing our best to address these issues, not only during the peak season of the Spring Festival holiday but also during the off-season. Therefore, we are confident and determined to further enhance Hainan’s reputation as a hub of tourism and consumption, ensuring that domestic and foreign guests can feel at home and travel in Hainan with peace of mind. Thank you.