The Path of High-quality Development of the Free Trade Port under the RCEP Pattern: A Case from Hainan

Abstract

Comprehensive Economic Partnership (RCEP) as the background and Hainan as an example to explore the path of progress of free trade ports under the RCEP framework. With its policy dividend, geographical location advantage and infrastructure upgrading, Hainan Free Trade port is accelerating construction into China's frontier of opening up to RCEP members. However, its development still faces prominent problems such as unbalanced industrial structure, transportation bottleneck restriction, insufficient talent reserve and lagging financial support system. The innovation point of this paper is to combine the RCEP rules with the progress logic with Chinese particularity, so as to provide theoretical reference and practical enlightenment for the institutional opening and the differentiated development path of emerging free trade ports. Through case analysis, this paper analyzes Hainan and try to find the following development paths: First, deepen institutional innovation and formulate policies in line with the actual situation; Second, focus on industries with unique advantages, promote industrial upgrading and deepen international cooperation; Third, promote financial openness and innovation; Fourth, we should pay more attention to education and form a talent siphon effect. The study emphasizes that emerging free trade ports need to base on their own endowments, balance short-term policy dividends and long-term institutional innovation, deepen regional cooperation with RCEP as a link, and provide a "Chinese scheme" for its development in developing countries.