Southern island set to be international player

The development of Hainan into an international free-trade port heralds a new stage of the reform and opening-up of the Chinese economy as the island boasts the potential to compete with other international ports such as Hong Kong and Singapore, experts said on Monday.

China's central authorities has announced a grand plan to build the country's tropical resort island into a pilot international free-trade zone and a major port with the new policies that are expected to boost investment and growth in a wide range of sectors including agriculture, tourism, finance, sports and entertainment.

The country also intends to experiment with new businesses such as horse racing and sports lotteries on the island, with hopes of turning it into a top international tourism destination and consumption hub.