Hainan FTP Plan Boosts Market Entity Emergences in Haikou City during 2021 Jan-Sept period
PR92930
HAIKOU, China, Nov. 9, 2021 /PRNewswire=KYODO JBN/ --
The 2021 January-September period witnessed 176,900 market entities emerged, an
increase of 126 percent from that of the last same period, in Haikou, capital
of south China's Hainan Province, on back of the government's efforts to
implement the master plan for the Hainan Free Trade Port (FTP), announced
Haikou International Investment Promotion Bureau this month.
The master plan for the Hainan free trade port aims to build the southern
island province into the world's largest duty-free market, and a
globally-influential high-level free trade port by the middle of the century.
According to the government plan, by 2050 this region will become a unique
cluster with an advanced economy, where campuses of leading universities,
advanced laboratories and headquarters of leading multinational corporations
will be located.
Since the master plan was released on June 1st, 2020, Haikou attended eight
signing ceremonies in Hainan Province, which involved 106 projects totaling
50.995 billion yuan (about 7.9 billion US dollars) of investment, with the
engagement of Xiaomi Corporation, China Railway Material General, Cambodia
Angkor Air, De Beers, and other well-known enterprises.
Haikou has streamlined the administrative process to better serve enterprises,
with efficiency improved by 90% in recent years. The approval time limit for
non-governmental investment projects was reduced to 14 working days, and saved
considerable time before construction kick-off.
Hainan Chang'an International Pharmaceutical Co., Ltd. went through the whole
process of site selection to the investment contract determination within 21
days. Up to date, the company has capped its main project, with 400 million
yuan (about 61.5 million US dollars) already invested in its anti-tumor drug
production line.
Haikou also made efforts to host investment invitation events in cities of
Beijing, Shanghai, and Shenzhen, and many enterprises shared their experience
of settling down in Jiangdong New District.
Zhang Jiawei, head of Shenzhen Minaspace International Group Co., Limited, said
that Haikou Jiangdong New District has a steady long-term policy system,
livable ecological environment, gradually optimized supporting facilities, and
apparent advantages of later-stage policies.
Li Sichao, a China Area General Manager of Shenzhen Huachuang Investment
Management Co., Ltd.'s subsidiary, also noted that Jiangdong New District is
equipped with various preferential Hainan FTP policies, as well as a strong
environmental protection sense.
The Chinese central government decided that a free trade port system focusing
on trade and investment liberalization and facilitation will be "basically
established" in Hainan by 2025 and become "more mature" by 2035. The
authorities expect to make Hainan, China's largest special economic zone, the
frontline of China's integration into the global economic system.
Source: Haikou International Investment Promotion Bureau
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Caption: Hainan FTP Plan Boosts Market Entity Emergences in Haikou City during 2021
Jan-Sept period
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