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China further expands development space through institutional opening up

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By Li Bin, Sun Haitian, People’s Daily

The Hainan Free Trade Port (FTP), as a significant strategic initiative of China’s reform and opening up, is creating new prospects.
At the plant of Sinopec Hainan Petrochemical Co., Ltd., imported crude oil is processed into new materials, as well as petroleum and chemicals.
Hainan Xiangliang Fodder Co., Ltd. has benefited from a “reception first, inspection later” policy for its imported grains. The grains, after going through deep processing, are then transported and sold to Chinese inland regions. This approach saves time and warehousing costs for the company, and allows it to enjoy tax exemptions on value-added sales of processed imported goods in China.
Besides, a near-zero carbon demonstration zone has been launched in Boao within the Hainan FTP, and the ocean space resource is being developed and utilized in a multi-dimensional way.
So far, Hainan has released 146 cases of innovation of institutional integration in 17 batches. It is steadily expanding institutional opening up to build itself into a high-standard and high-quality FTP.
Promoting reform and development though opening up is an important means for China to make continuous achievements in modernization.
From the establishment of 22 pilot free trade zones (FTZs) to the emergence of the Hainan FTP, and from the release of the Foreign Investment Law to the implementation of the Regional Comprehensive Economic Partnership (RCEP), the alignment with high-standard international economic and trade rules and steady expansion of institutional openness have opened up greater space for China’s development.
The Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) outlined plans for refining the institutions and mechanisms for high-standard opening up, which involve steadily expanding institutional opening up and a globally-oriented network of high-standard free trade areas.
Steadily expanding institutional opening up is key to high-standard opening up. It helps build new drivers of opening up, and new momentum and advantages of China’s development.
Compared to opening up based on flows of goods and factors of production, institutional opening up is on a higher level. It embodies China’s pursuit of a more proactive strategy of opening up.
China’s negative list for foreign investment, which was initially launched at pilot FTZs, has been promoted nationwide. From the initial 190 items to the current 31 items in the national version and 27 items in the pilot FTZ version, the shortened negative list for foreign investment has further widened market access, making China’s opening-up more attractive to foreign investors.
The China (Shanghai) Pilot FTZ has launched a single window for international trade and a copyright service center to better protect intellectual property rights. The Hainan FTP has built a business service system that is “responsive to all requests, non-intrusive when unnecessary, and faithful to all promises.” These approaches have enhanced policy offerings and service quality while reducing burdens on businesses and vitalizing the market.
These measures aim at fostering a business environment that is more solidly based on market and rule of law and is up to international standards, and creating an institutional environment that is transparent, stable and predictable, which will make the Chinese market more attractive to global resources and production factors.
When it comes to steadily expanding institutional opening up, expansion is the goal while the key lies in maintaining a steady approach.
In expanding institutional opening up in the financial sector, it is important for China to align with high-standard international economic and trade rules, streamline restrictive measures, and strengthen risk prevention and control throughout the entire process to better safeguard national financial security.
In furthering opening up the services sector, China attaches equal importance to science-based planning at the top level and the replicable experiences gained from the active exploration in 28 pilot regions.
Earlier this year, the General Office of China’s State Council issued an action plan to steadily promote high-level opening up and make greater efforts to attract and utilize foreign investment. In the first seven months of 2024, the number of newly established foreign-invested businesses in China hit 31,654, a year-on-year increase of 11.4 percent, with continuously improved foreign investment structure.
At the Global Free Ports Development Forum during the Boao Forum for Asia Annual Conference 2023, an initiative calling for more partnership between free trade zones (FTZ) across the globe was proposed and launched by Hainan and other 25 free trade zones and ports across the world. So far, 32 free trade zones and ports have joined the initiative.
By both bringing in high-standard international economic and trade rules and attracting foreign investment, China has promoted mutual learning and integration of its domestic and international rules, amplifying the interplay between its domestic and international markets and resources.
It is believed that as long as China pursues a mutually beneficial strategy of opening up and steadily expands institutional opening up, it will continuously create new opportunities for the world with its own development.

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Alao-Akala’s Widow Urges Full Implementation Of LG Autonomy

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  • Drums support for Tinubu, APC candidates

Stephen Olufemi Oni, Ilorin

The Chairperson of the Akala Transformation Movement (ATM) and former First Lady of Oyo State, Chief (Mrs) Oluwakemi Alao-Akala, has called for the full implementation of local government autonomy, saying it will bring governance closer to Nigerians and accelerate development at the grassroots.

Alao-Akala made the call during an ATM outreach held at Equilibrium Resorts, Ojongbodu, Oyo West Local Government Area of Oyo State, where she also urged Nigerians, particularly women, to support the administration of President Bola Tinubu and participate actively in the democratic process.

She said the effective functioning of local governments was crucial because they remained the closest tier of government to the people.

“One important thing I am preaching now is local government autonomy. Obviously, we are going to have our local governments properly elected. They are going to be funded, and they are the closest to the people,” she said.

The former First Lady urged Nigerians to understand and assess the impact of government policies before making political decisions, stressing that the coming years should be devoted to consolidating ongoing reforms and ensuring that their benefits reach ordinary citizens.

She also called on women to remain actively involved in governance and continue supporting leaders through their votes and prayers.

According to her, voting remained a major responsibility of citizens because it determines the quality and direction of leadership at all levels.

Alao-Akala further urged ATM members and supporters to work for the success of the All Progressives Congress (APC) and support its candidates in state and national elections ahead of the 2027 general elections.

She clarified that ATM was a movement and not a political party, adding that its activities were aimed at mobilising support for the APC and its candidates.

Meanwhile, the Director-General of ATM, Mr Demola Alao-Akala, said the movement would continue to preserve and promote the legacy of his late father, former Oyo State Governor, Otunba Adebayo Alao-Akala.

He said the essence of the movement was not merely to remember the late governor but to sustain the values and principles he stood for, particularly people-oriented governance and the welfare of ordinary citizens.

“The concept of remembrance of our father is about making sure that his legacy survives. When he left, he left us a pattern, and we strongly believe that the legacy he left behind can be used to propagate his ideas and keep his memory alive,” he said.

The ATM DG said members of the movement were determined to build on the ideals of service and good governance associated with the late governor.

“We believe strongly that if we are alive, we are going to go back to our lives and continue in the spirit that he showed. We are moving forward, and I think we are supposed to continue,” he added.

Alao-Akala said the late governor’s political philosophy placed the welfare of the people at the centre of governance, noting that democracy should ultimately be judged by its positive impact on citizens.

He assured ATM members that the movement would remain committed to promoting the late governor’s ideals while mobilising support for programmes and candidates it believes can improve the lives of Nigerians.

“We are going forward,” he declared.

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Bank Cannot Freeze Customer’s Account Without Valid Court Order — Zarewa

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A legal practitioner, Mr M. D. Zarewa, has said that a bank cannot freeze or restrict a customer’s account without a valid court order.
Zarewa said it was prevalent in the society for law enforcement agencies to give directives to banks to freeze customers’ accounts whenever there was a pending case before them, adding that banks often complied with such directives.
He, however, said such practice was alien to Nigeria’s jurisprudence, stressing that banks were enjoined not to interfere with or restrict the activities of any customer’s account without a valid court order.
According to him, it is trite law and settled beyond argument that a bank cannot freeze a customer’s account without a valid court order.
He said the position was entrenched in the case of GTB Plc v. Olachi & Anor (2025) LPELR-81833(CA), where the Court of Appeal held that “whether frozen or restricted, neither can be done without the valid order of a Court of Law.”
Zarewa further cited GTBank v. Adedamola (2019) 5 NWLR (Pt. 1664) 30 at 43, Paras. E-F, where the court held:
“Before freezing customer’s account or placing any form of restraint on any account, the bank must be satisfied that there is an Order of Court.
“By the provisions of Section 34 of the Economic and Financial Crimes Commission Act 2004, the Economic and Financial Crimes Commission has no power to give direct instructions to banks to freeze the account of a customer without an Order of Court. So doing, constitutes a flagrant disregard and violation of the rights of a customer.”
The lawyer said any customer whose account had been frozen or restricted without a valid court order could institute a suit against the bank for grossly violating his or her rights.
He said such a customer could particularly seek redress for the violation of the right to own movable and immovable property and seek compensation from the court.
Furthermore, Zarewa said the law was trite that where there was a wrong, there was a remedy, as captured in the Latin maxim, Ubi jus ibi remedium.

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Gov AbdulRazaq Inaugurates 464-Unit Housing Estate In Kwara

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Stephen Olufemi Oni, Ilorin

​‌‌‌‍‍​‍⁠⁠‍​​⁠​⁠Kwara State Governor AbdulRahman AbdulRazaq has inaugurated the ‘AbdulRahman AbdulRazaq Morire Housing Estate’ in Ijagbo, Oyun Local Government Area of the State.

Speaking at the groundbreaking of the housing estates, which included 210 units of two-bedroom terrace apartments, 200 units of three-bedroom units and 54 units of four-bedroom terrace duplexes, the
Governor, noted that housing should not be seen or regarded as a luxury, but rather as a fundamental human requirement and cornerstone of dignity, security, and family stability, lamenting the daunting challenge of addressing housing deficits across the country.

He said: “Dear Kwarans, housing is not a luxury. Basic housing is a
fundamental human need and a cornerstone of dignity, security,
and family stability. Yet, across Nigeria and indeed in Kwara State,
the challenge of addressing housing deficit is daunting.

“This administration believes that inadequacy of proper shelter
for Nigerians is not merely a problem of not building enough
houses. Indeed, several studies have attributed the housing deficit in Nigeria to a complex mix of causes, key among them being high costs and rising costs of building materials, weak finance, difficult land systems, infrastructure gaps, institutional limitations, among others.

“On behalf of the people of Kwara, I thank the management of ISHI
Homes Limited for this partnership and for choosing Kwara State
as the location for this important development.”

Represented by the Commissioner for Housing and Urban Development, Dr Segun Ogunsola, the Governor applauded the developer for recognising his administration’s contributions to mass housing development in the State.

“The administration has consistently placed housing development high on its agenda. The government recognises access to decent and affordable housing as essential to the wellbeing of the people.

“The State Government has also been in active collaboration with
institutional partners including the Federal Ministry of Housing
with a view to increasing housing stock in the State.

“Recently, we acquired a housing estate with over 130 flats at
Ogbondoroko in Asa LGA of the State. Government has approved
that the estate be onboarded onto the administration’s social
support scheme,” he disclosed.

AbdulRazaq said the commitment was reflected in the development of the Kwara Smart City and other mass housing initiatives across the State.

The Governor disclosed that his reforms in land administration have reduced the processing time for Certificate of Occupancy (C of O) from 180 days to 35 days.

AbdulRazaq said the improved turnaround time demonstrated the administration’s commitment to making land administration more transparent, efficient and investor-friendly.

Earlier in his remarks, the Chief Executive Officer (CEO) of ISHI Homes, Dr Olayinka Ilufoye, said the project was intended to democratise home ownership and make decent and affordable housing accessible to the people of Kwara South senatorial district.

Ilufoye said the estate was meant for civil servants, traders and other Nigerians who can access it through the National Housing Fund (NHF).

“The name AbdulRahman AbdulRazaq Morire, which translates to ‘I have seen goodness’, is a deliberate expression of our faith, hope and expectation.

“We believe this estate will become a testimony of prosperity, progress and abundance in Kwara South,” he said.

Ilufoye pledged that the company would remain committed to transparency, accountability, quality construction and timely delivery.

The Executive Chairman of the Kwara State Geographic Information Service (KWGIS), Alhaji Sulyman Abdulkareem said the state government has consistently placed housing development high on its development agenda.

He commended the state government for ensuring access to land, facilitating the prompt issuance of titles and certificate of occupancy.

Abdulkareem pointed out that by providing timely approval for mortgage transactions, the Governor is creating the conditions necessary for housing development to thrive in Kwara State.

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