Business Environment in Hainan

Hainan, an island province of China and the nation’s southernmost point, has been given full support to build up both the Hainan trade pilot zone and free trade port by the central government, to help open up and improve the business environment. The government is welcoming businesses from all around the world to invest in Hainan and actively participate in development-related ventures, and in industries or sectors like information technology, agriculture, scientific research, innovation, tourism, marine economy, ecology, education and upgrade of human resources.

Hainan launches 100-day investor initiative
China's southernmost island province of Hainan launched a 100-day event starting on May 20 to attract global investment to help advance its development as a pilot international free trade zone. The event will target the world's top 500 companies, leading industrial conglomerates and internationally well-known 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 southern tip of Hainan.

Key areas set for enticing investors include tourism, high-efficiency tropical agriculture, medicine and healthcare, modern financial services, new and high-technologies, convention and exhibition, ocean economy, infrastructure, revitalization of rural areas and protection of the ecological environment

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.

Haikou introduces favorable rewards to boost economy
Under the preferential policies, a transnational corporation will get RMB 3 million as a reward for establishing its headquarters or regional headquarters in Haikou, and for an international organization, the reward is RMB 2 million.

Regional headquarters engaged in tourism and modern service industries will each receive a bonus of RMB 5 million if their first year operations make a contribution of RMB 30 million to local revenue, and headquarters of companies from new and high-tech industries will receive a bonus of as much as RMB 10 million if they contribute RMB 30 million annually to local revenue after registration, according to the incentive measures released at the news conference.

Haikou will offer a maximum of RMB 3 million to a new company setting up its headquarters in the city as an office rent allowance within the first five years, and a maximum subsidy of RMB 10 million if it purchases an office in the city. The city is home to a total of 4,384 companies that have individual registration capital of RMB 50 million to 1 billion.

Hainan to cooperate with HK for mutual benefit
Hainan and Hong Kong have decided to cooperate in 10 fields for a win-win result and further promotion of reform and opening up, according to the Hainan Development and Reform Commission.

Approved by both governments, the cooperation will focus on tourism, business, finance, conventions and exhibitions, culture and sports, youth exchanges and education, health care, technological innovation, security management, and meteorological services.

Other cooperation methods encompass building service trade cooperation zones, supporting Hainan enterprises to issue bonds and loans from banks in Hong Kong, strengthening cultural exchanges, opening first-aid medical training courses, and promoting joint research laboratories. 

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