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Delegates from China and other countries hold business discussions at this year's Texworld USA, an international textile exhibition, in New York, in July. [Photo / Xinhua]
Defense position work for 30 seconds
Designated by the central government as a provincial demonstration base for the reform, Hainan is promoting new development concepts that highlight creativeness, good coordination, green growth, opening-up and sharing of resources, which has effectively stimulated its economic vitality and put the province on track for fast growth.
Despite concerns the government might go back to the old strategy of relying on debt-fueled growth, Gao Ting, head of China strategy at UBS Securities, said he expects the government will not allow a major monetary stimulus and will stick to its deleveraging campaign, as current liquidity levels have met the central bank's target.
Despite the friction, China is still interested in economic cooperation for mutual benefit.
来源：资阳报