Hainan sets up agency to woo foreign investment

China's southernmost island province of Hainan set up a new public service agency to attract foreign capital and provide international corporate services, local authorities said.

Launched by the provincial government, the newly-established Hainan international economic development bureau is a non-profit legal entity registered under the Hainan Civil Affairs Department and operates under the guide of the provincial department of commerce.

The bureau will serve the construction of the Hainan pilot free trade zone and the free trade port with Chinese characteristics, the government said.

The bureau will take charge of attracting foreign businesses and capital, offering services and consultations on exhibition and investment, and international promotions.

It will also assist relevant local organizations to set up regional headquarters and offices overseas, and provide decision-making consulting, feasible proposals and policy research regarding Hainan's open economy.

Hainan recorded a GDP growth of 5.8 percent to reach 483.2 billion yuan (about 71.9 bln U. S. dollars) in 2018, with trade volume increasing by 20.8 percent and actual use of foreign capital surging by 112.7 percent, both higher than the national average.

source: Xinhua

Sanya recently began designing a new city museum, with the intension of turning it into a famous landmark and hub for Sino-foreign cultural exchanges.

The construction team consulted the National Institute of Cultural Development at Wuhan University and experts from the Hubei Provincial Museum and received professional advice on building and displays.

Sanya is a multi-ethnic city where Li, Miao, Hui and other ethnic minorities live together. It boasts prehistoric cultural relics and plenty of ethnic intangible cultural heritage items.

Wang Jianglong, project manager of Sanya's culture center, said the construction team would draw up more precise plans in accordance with the urban development strategy based on expert opinions.

The city museum will focus on quality above all else to achieve its goal of becoming a Sanya cultural treasure and urban landmark. It will also enrich the cultural value of the China (Hainan) Pilot Free Trade Zone and a free trade port with Chinese characteristics currently under construction.

source: chinadaily.com.cn