Hainan’s 100-day investment attraction achieves remarkable results

Hainan has recently taken a large number of measures aimed at making solid progress in building the China (Hainan) Pilot Free Trade Zone and a free trade port with Chinese characteristics, and exploring a new open economic system. [Photo/VCG]

Hainan province has signed 126 project agreements with the world's top 500 companies, global industrial leaders and famous brand enterprises since launching a 100-day investment attraction on May 20.

According to data released by the Department of Commerce of Hainan Province on Sept 2, 74 projects have been implemented and another 370 are in negotiation.

New achievements have been made in central enterprise attraction, headquarters economy development and introduction of foreign investment.

Fourteen central enterprises have reached cooperation with Hainan with 10 projects already proceeding smoothly. Eight more are under negotiation. A total of 25 headquarters enterprises have inked a deal with Hainan and 19 registered one in the island province in the past 100 days. As for foreign-funded projects, 16 have been implemented and 64 more are being negotiated. They cover education, logistics, health care, culture and sports, modern agriculture, conventions and exhibitions, and infrastructure.   

The 100-day event was intended to attract global investment to help advance Hainan's development as a pilot international free trade zone. It targeted the world's top 500 companies, leading industrial conglomerates and well-known international enterprises to start projects on the island or establish headquarters or regional headquarters in Haikou, capital of Hainan, or Sanya, a holiday resort city at the island's southern tip, said government officials at a news conference on May 20 in Haikou.

Hainan Vice-Governor Peng Jinhui said that the province will create a better environment for business people and enterprises to encourage innovation and further advance construction of infrastructure on the island.

On May 13, Hainan announced a plan to woo a million talented individuals from home and abroad, offering them preferential policies including loans and free housing.

Hainan has recently taken a large number of measures aimed at making solid progress in building the China (Hainan) Pilot Free Trade Zone and a free trade port with Chinese characteristics and exploring a new open economic system.

To facilitate a headquarters economy, Hainan published two documents on May 20 offering suggestions on promoting the economic type and stipulating identification and management rules. On June 6, Haikou and Sanya both unveiled specific supportive policies on the matter.

Officials of the department of commerce said that Hainan will grasp the opportunity to amplify investment by active business negotiations and increased utilization of foreign capital.