Hainan FTP off to good start attracting investment in 2022

Since the beginning of this year, Hainan Free Trade Port made success in attracting investment and utilizing foreign capital. In January, 170 foreign-invested enterprises were newly established in the province, a year-on-year increase of 34.92 percent, while the actual use of foreign capital was $329 million, a year-on-year increase of 54.16 percent, according to the Hainan Provincial Department of Commerce. 

In January, the actual use of foreign capital in Hainan's modern service industry was $190 million, accounting for 57.6 percent of the province's total foreign investment, while that of the manufacturing industry was $90 million, accounting for 27.3 percent of the province's total, and that of the high-tech industry was $55 million, with a year-on-year increase of 32.97 percent.

Since the beginning of this year, foreign-invested enterprises have focused on Hainan's tourism, modern service, high-tech, and tropical high-efficiency agriculture industries.

Many well-known international companies, such as Richemont Group of Switzerland, ALBA of Germany, EDF of France, AstraZeneca of the United Kingdom, and General Electric of the United States, have actively invested in Hainan, while a number of high-quality foreign investment projects have been promoted.

An official of the Hainan Provincial Department of Commerce said that the province would improve the investment liberalization and facilitation policy and institutional system this year. It would also plan high-quality investment promotion activities, provide high-quality services for foreign-funded enterprises and projects, as well as promote the implementation of high-quality foreign-funded projects.