Haikou saw 278,000 new market entities in the past 3 years

By Chen Shumin / HICN / Updated: 16:08,28-May-2021

According to a press conference held in Haikou on May 27, Haikou has signed a total of 974 projects with a total planned investment of over 303 billion yuan (about 47.48 billion dollars) and seen an increase of 278,000 market entities in the past three years since the central government set the plan in motion to develop Hainan into a Free Trade Port with Chinese characteristics in 2018.

In addition to a group of well-known enterprises including Datang Group, Yankuang Group, Hengli Group, and SDIC, which are operating in Haikou, 13 Free Trade Port project groups have been set up in the city, with a total investment of 156.2 billion yuan (about 24.48 billion dollars) for the total of 203 projects.

According to the 2020 numbers, the total import and export value of foreign trade in Haikou reached 36.83 billion yuan (about 5.77 billion dollars), with an increase of 665 foreign-funded enterprises. The actual use of foreign capital in the city was 1.72 billion dollars, an increase of 58.6 times over 2017, exceeding the goal of doubling for three consecutive years.

An aerial photo shows the Central Business District on Guoxing Ave. in Haikou, home to the WGT (Windows to Global Trade) building and a group of trading enterprises. (Hainan Daily)

Haikou is dedicated to improving the city's business environment. The provincial capital took the lead in completing several "firsts" in the post-audit of offshore trade, "zero tariffs" on trades in raw materials for aviation, and Qualified Foreign Limited Partnership (QFLP) funds. Four regular intercontinental cargo flights linking Haikou with Moscow, Paris, Frankfurt, Jakarta, and Singapore have been opened.

An aerial photo shows the Haikou Jiangdong area of Hainan Free Trade Port where the first post-audit offshore trading business set up.(Hainan Daily)

In addition to an international mediation center for commercial affairs established in Haikou, centers for the international energy business, tropical agricultural product trade, and intellectual property transactions also have been put into operation.

Plus, new duty-free shops have been opened at Mova Plaza and Mission Hills in Haikou, and the second phase of the Hainan International Convention and Exhibition Center has been completed and begun operation.

An aerial photo shows the Hainan International Convention and Exhibition Center where the first China International Consumer Products Expo was held from May 7 to 10, 2021. (Liu Yang)

Haikou also saw the establishment of the first national offshore innovation and entrepreneur base for overseas talents and the accelerated construction of ten landmark public facilities, among which Wuyuanhe Stadium, the Haikou Citizen Tourism Center, and the Haikou Bay Performing Arts Center have been completed and opened for business.

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