Number of foreign-invested enterprises in Haikou increases by 82.6 percent

Haikou, capital of Hainan province, has been focusing on investment promotion in nine areas, including duty-free shopping, consumer goods sales, and services trade. It has achieved remarkable results with an 82.61 percent increase in new foreign-invested enterprises registration.

According to statistics, the fixed asset investment amounted to 995 million yuan ($140.16 million) and contributed 693 million yuan in tax revenue. A total of 168 foreign-invested enterprises were newly registered and the actual use of foreign capital was $671 million, a year-on-year increase of 49.73 percent.

In 2019, 61 major projects were launched in the city, with 69 companies registered and 25 in operation, including a group of Fortune 500 companies, such as Yankuang Group, tourism leader China Tourism Group, and Internet unicorn ByteDance.

Online business promotion in Haikou. [Photo/WeChat account hnzimaoqugang]

In January 2020, Haikou held a trade fair and investment promotion conference in Shenzhen, focusing on investment promotion in business jets and yachts. It communicated and sought cooperation opportunities with eight top global business jet companies like Gulfstream Aerospace, Bombardier, Cessna, Bell, and Honda, as well as nine top yacht companies in the world like Riva Yacht and Sunseeker.

Since its establishment on Nov 18, 2019, the Haikou International Investment Promotion Bureau has visited 24 headquarters companies, incorporated more than 400 target companies into its enterprise database, rolled out 70 policies into its policy database, and put more than 60 third-party professionals into its database for third-party service providers. All of these measures have laid a solid foundation for investment promotion and headquarters enterprise service work in the future.

In the second quarter of 2020, the city will sign 35 projects with a contract value of 2.5 billion yuan.

ByteDance, a famous Chinese internet media company, settles in Haikou in 2019.  [Photo/WeChat account hnzimaoqugang]