Hainan to promote market vitality

Rollout to help in industrial upgrade and institutional innovation efforts in province, say top authorities

Hainan, China's southernmost province, will pilot intensified implementation of the competition policy in its key business sectors, in a bid to promote institutional innovation and industrial upgrading, according to the provincial authorities.

The move follows the establishment of the China (Hainan) Pilot Free Trade Zone, the country's newest yet largest FTZ, covering 35,400 square kilometers and 32 times the size of Hong Kong, to intensify competition policy implementation on a pilot basis in Hainan, the first province agreed by the central authorities to conduct the practice province-wide, said officials with the Hainan Provincial Administration for Market Regulation.