427,872 new companies and 979 foreign companies appeared in Hainan province

Statistics show that from June 2020 to June 2021, the number of new companies in Hainan was 427,872, and in the first half of this year, 190,781 new market entities appeared in Hainan, an increase of 69.23% over 2020. The convenient customs clearance conditions of the Hainan Free Trade Port and the policy of exemption from import tariffs for goods containing more than 30% of the added value of handling imported materials and parts have attracted many companies to Hainan.


Statistics also show that there were 979 newly established enterprises with foreign investment in Hainan province in the first half of 2021, an increase of 500.61% over the same period in 2019 and an increase of 384.65% over the same period. 2020. For example, in June 2021, the American Dotery Company registered and established Hainan Yiou Technology Co., Ltd. in Hainan. In general, since the beginning of 2021, a number of policies and measures have been adopted in areas such as foreign investment to encourage enterprises to actively participate in the development of the Hainan Free Trade Port in many areas: "Special Management Measures for Foreign Investment Access of the Hainan Free Trade Port." On July 26, the "Special Administrative Measures for Cross-Border Trade in Services in the Hainan Free Trade Port (2021 Edition)" was officially released.


In addition, on June 10, the People's Republic of China Hainan Free Trade Port Law was officially promulgated and enacted, which contributes to creating good expectations for the Hainan legal environment and political stability for all walks of life. Hainan is currently promoting single window, minimalist approval, single seal approval and other measures to simplify business-related services in international trade.


A few days ago, a business environment issues platform was launched in Hainan where companies can report business environment issues through various online channels. This is a practical measure that allows businesses to quickly and efficiently communicate with the relevant departments to resolve issues. It also allows our businesses to feel the importance and determination of the Hainan Free Trade Port in creating a world-class business environment.


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