Social Sciences in China, 2024

Vol. 45 , No. 4, 2024

 

Benchmarking against World’s Highest-Level Openness: The Rule of Law Innovation in Hainan Free Trade Port

(Abstract)

 

Han Long

 

The establishment of Hainan Free Trade Port (FTP) is a significant strategic move for China’s implementation of high-standard opening up. The Law of the People’s Republic of China on the Hainan Free Trade Port and the Overall Plan for the Construction of Hainan Free Trade Port benchmark Hainan FTP against the highest level of openness in the world through systematic major innovations in terms of objective, institutional creation, administrative system, and Chinese characteristics. The highest level of openness has been set as the objective for Hainan FTP, in line with the developmental trend of comprehensive contemporary international economic activities. To achieve this goal, Hainan FTP is implementing systematic opening up and integrating institutional breakthroughs, providing pathways for dynamic institutional development over time. It has adopted an administrative system which allows for central government coordination and the delegation of power to Hainan FTP, thus helping to capitalize on the advantages of both the central government and Hainan, as well as the efficient functioning of Hainan FTP. Strong Chinese characteristics are manifested in the adherence to the leadership of the Communist Party of China and the people-centered principle, the institutional advantages of overall coordination, and the tailor-made legislation for Hainan FTP. All of these innovation measures provide a strong institutional guarantee for the construction of Hainan FTP.

 

Keywords: Hainan Free Trade Port, openness, rule of law innovation, Chinese characteristics