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Agricultural Development Bank of China
News for Outlets

Hainan's FDI soars 565.5 pct in first 8 months of 2019

September 18, 2019


Abstract : The flow of foreign direct investment (FDI) into Hainan, the southmost island province of China, soared 565.5 percent year on year in the first eight months of this year, showed official data on September 16.

BEIJING, Sept. 18 (Xinhua) -- The flow of foreign direct investment (FDI) into Hainan, the southmost island province of China, soared  565.5 percent year on year in the first eight months of this year, showed official data on September 16.

From January to August this year, the newly established foreign-funded enterprises in Hainan increased by 189.2 percent year on year, and total import and export volume grew by 37.4 percent year on year, stated Liu Cigui, party chief of Hainan Province.

Besides, 28 of the World Top 500 enterprises and all of the Big Four international accounting firms have established presence in Hainan.

Liu pointed out a new pattern of reform and opening up at a higher level is taking shape in Hainan.

Hainan has paid even more attention to attracting foreign capital and international talents since China decided to build the island province into the largest free trade zone of the country last year.

The pre-establishment national treatment plus negative list management system has been fully implemented for foreign investment. More than 70,000 domestic and foreign talents have been attracted to Hainan to start business or find jobs through the "One Million Talents into Hainan" program.

Now Hainan is pushing forward the building of a pilot free trade zone with core endeavors put on institutional innovations.

Liu pointed out that the Hainan free trade port law has been officially put on the national legislative agenda, while the study of the free trade port policy and institutional systems is accelerated.

Data shows the annual throughput of passengers at Haikou and Sanya international airports have respectively exceeded 20 million. Haikou Port and Yangpu Port are developing fast into international shipping and logistics hubs and key fulcrums on the new international land-sea trade corridor.

In the next step, Hainan will take the highest level of openness in the world as the benchmark and speed up the exploration of building the Hainan free trade port, facilitating the safe and efficient flow of people, goods, capital and information, Liu added.

Hainan will further deepen its cooperation with countries around the world, especially the Belt & Road countries and regions, Liu said.   Enditem (Contributed by Wu Congsi, Ding Yawen; edited by Duan Jing)

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Keyword: Hainan FDI

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