The 91st International Forum on China Reform, held in Haikou, Hainan province, brought together over 400 experts and policymakers to discuss the critical importance of China’s upcoming 15th Five-Year Plan (2026-2030). The forum emphasized that this period will be pivotal for structural reforms aimed at rebalancing the economy toward domestic consumption and higher-level opening up. Hainan Governor Liu Xiaoming highlighted the significance of this era for the Hainan Free Trade Port, stating that it marks a crucial phase for deepening reform and achieving high-quality development, particularly with the launch of island-wide special customs operations on December 18, 2025. Chi Fulin, president of the China Institute for Reform and Development, stressed the need for comprehensive reforms to address structural contradictions between investment and consumption, advocating for a development model led by domestic demand. Steven Alan Barnett, former IMF senior resident representative for China, echoed this sentiment, emphasizing the importance of consumption-led growth and innovation. Former vice-foreign minister Le Yucheng outlined a strategic pivot toward ‘institutional opening,’ with Hainan’s customs operations serving as a precursor to broader reforms. Harley Seyedin, president of the American Chamber of Commerce in South China, underscored the universal need for openness in fostering mutual benefit and high-quality development.