This year, the Hainan Free Trade Port will initiate whole-island special customs operations and further expand opening up. In the run up to this landmark transition, HIMC has conducted exclusive interviews with various leading industry figures and experts to get their take on Hainan. In this episode, we hear from internationally renowned economist Jeffrey Sachs and chairman of French thinktank The Bridge Tank Joël Ruet.

World-renowned economist, best-selling author, and globally leading figure in sustainable development, Jeffrey Sachs is best known for never mincing his words. He has been an almost annual visitor to China since his first trip to the country in 1981, where he has made impressive inroads. He believes that China’s success streams from its hardworking populace, strong emphasis on education, sound economic planning, and bold entrepreneurial innovation. During the interview, he highlighted China’s increasingly strong relationship with Southeast Asia. He believes that Hainan, which neighbors the region, is set to transform into a key regional hub for tourism, trade, and finance.

Chairman of The Bridge Tank, Joël Ruet, has provided policy consultation for various governments over his career. He stated that China, as a responsible major trading nation, is becoming an increasingly important investment hub. In his opinion, transforming the whole of Hainan Island into a free trade port is an institutional innovation, and Hainan’s experiences and practices will become valuable “specimens” that the world can study.