Hainan's venture capital investment assets top ¥2.26 bln in 2021

By Li Xiang / HICN / Updated: 18:43,13-January-2022

According to the Hainan Provincial Development and Reform Commission, Hainan saw eight newly registered venture capital enterprises in 2021, with total assets of 2.26 billion yuan (about $355.14 million), up 180 times from the figures recorded at the end of 2020. The number and total assets of newly registered venture capital enterprises ranked 5th in China, as well as being a record high for the tropical island.

Aerial photo shows Haikou, the capital of Hainan Province and a core city for the development of the Hainan Free Trade Port. (en.hnftp.gov.cn)

In order to attract the required talent and technology to boost the development of the venture capital investment industry in Hainan, a catalogue of encouraged industries for the Hainan FTP was issued in January 2021, and included venture capital investment as one of the industries entitled to a preferential 15 percent corporate income tax rate as well as a preferential 15 percent personal income tax rate for individuals with high-level and in-demand expertise.

Later, in September 2021, a guideline was issued to further improve the venture investment service management system in Hainan, including simplifying the registration process, shortening approval times, and improving consulting services, reducing operating costs and providing these businesses with higher quality services.



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