Hainan's actual use of foreign capital increased by 527.54%

By Ding Xin / hicn.cn / Updated: 16:06,25-June-2021

According to the Department of Commerce of Hainan Province, in the first five months of 2021, Hainan’s number of new foreign-funded enterprises and actual use of foreign capital have increased substantially. During that period, Hainan’s actual use of foreign capital increased by 527.54% year-on-year, and there were newly established foreign-funded enterprises from a total of 81 countries and regions set up in Hainan.

From January to May, Hainan saw 750 newly established foreign-invested enterprises, a year-on-year increase of 393.42%, while actual use of foreign capital was 798 million USD, a year-on-year increase of 432.72%. The sources of foreign capital are diverse, with the top 3 in terms of the number of newly established foreign companies in the FTP being China’s Hong Kong & Taiwan, followed by Canada. Actual use of foreign capital in the modern service industry accounted for more than 90% of the province's total, and the actual use of foreign capital in the business service industry has maintained rapid growth.

Since the beginning of the year, Hainan has also continued to optimize its business environment. Several new investment policies and measures have been implemented in order to encourage companies to sign cooperation agreements with Hainan, promote foreign-funded projects, and allow more companies to participate in intelligent manufacturing, international shipping, financial leasing, new trade, education and medicine, tourism and sports, agriculture, and other fields here in the Hainan Free Trade Port.

On April 13, Cambodia’s Angkor Airways signed a contract with the Haikou city government to build an aviation operating base. David Zhan, Board Director of the company, said they hoped to benefit from the Seventh Freedom of the Air and they are highly interested in the shipping policy of Hainan Free Trade Port.

A representative of the Department of Commerce of Hainan Province said that the next step will be to further promote investment, guide foreign investment in Hainan's dominant industries, encourage similar industries, strengthen tracking services, and actively promote the implementation of a variety of investment promotion activities.

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