The government work report issued at this year’s “two sessions”, namely the National People’s Congress (NPC) and the Chinese People’s Political Consultative Congress (CPPCC), in China proposed that greater effort should be made to attract and use foreign capital. In response, delegates from China’s southern island province of Hainan stated that the Hainan Free Trade Port (FTP) will continue to optimize the island province’s business environment, hold high-quality investment promotions, work to bring in and implement a number of landmark foreign-funded projects, and provide foreign-funded companies with excellent, efficient services, improving both the scale and quality of the use of foreign capital in Hainan.

The Standard Factory & Overseas Warehouse Project in Hainan’s Yangpu Port area. (Photo / Hainan Daily)

A delegation from the province held FTP promotion conferences and investment promotions in the Hong Kong SAR, Indonesia, and Vietnam from February 14 to 23, successfully signing a number of project cooperation agreements.

The FTP promotion conference held in the Hong Kong SAR impressed Zhu Dingjian, a member of the National Committee of the CPPCC and chairman of the Mission Hills Group. At this year's national “two sessions”, Zhu also proposed further opening up the FTP's professional service market and bringing in professional service personnel and institutions from the Hong Kong SAR more quickly.

In 2022, Hainan welcomed 1,320 new foreign-invested enterprises, and the actual use of foreign capital in the province reached 4.05 billion USD, a year-on-year increase of 15%.

Hainan members of the National Committee of the CPPCC jointly submitted a proposal to support the Hainan FTP in building “two headquarters bases”: “Hainan is in the initial stages of the development of the Free Trade Port, and is fully qualified as a place for Chinese companies to open headquarters as they enter the Southeast Asian market, and for Southeast Asian companies entering the Chinese market, and so the province should focus on attracting companies looking for a location for their headquarters.”

Aerial view of the Haikou Jiangdong New Area Headquarters Economic Zone. (Photo / Hainan Daily)

Ding Hui, deputy of the NPC and mayor of Haikou City said that Haikou is currently building "two headquarters bases". The city will continue to spare no effort in attracting foreign investment, and increase the number of routes connecting Haikou to major international hub cities while also actively exploring cooperation with international airlines in the Seventh Freedom of the Air.

In addition, by taking advantage of the FTP’s preferential policies, Haikou will further help domestic Chinese companies to “go global” and improve the international competitiveness of their products and services. Exchange with world-renowned free trade port regions and parks will be promoted in order to speed up the adoption of internationally accepted business norms in the city. 

Private enterprises in Haikou will be assisted in carrying out international trade cooperation, developing markets, and optimizing the structure of the international market.

Staff members of companies located at the Global Trade Window in Haikou discuss the day’s business affairs. (Photo / Hainan Daily)

Hou Maofeng, member of the National Committee of the CPPCC and chairman of the Hainan Provincial Committee of the China Zhi Gong Party, also said that the Hainan Provincial Committee of the China Zhi Gong Party will strengthen exchange with overseas Chinese, and work to attract overseas talent and foreign investment to the Free Trade Port.

Ding Hui explained that next, Haikou will launch a global investment promotion campaign. The city will strengthen regular contact with foreign embassies and consulates in China, chambers of commerce, business associations, and other international organizations, while deepening cooperation with member states of the Regional Comprehensive Economic Partnership (RCEP), in a bid to bring more overseas investors to Haikou.