South China's Hainan province added 201,000 new market entities in the first three quarters of 2020, a year-on-year increase of 22.91 percent, according to reports from local media outlet Hainan Daily on Oct 26.
During this period, 98,700 new enterprises were established, up 106.66 percent over the same period last year, ranking first among all Chinese provinces and autonomous regions.
As of the end of September, there were 1.09 million market entities in the island province. Among them, 394,000 were enterprises and 697,400 were self-employed businesses.
In the first three quarters of this year, a total of 41,000 new enterprises were set up in the 12 key industries of Hainan, a year-on-year increase of 103.61 percent. By September, there were 167,000 enterprises in the 12 key industries, accounting for 42.39 percent of the actual number of all enterprises.
The internet industry, modern financial service industry, and the pharmaceutical industry grew at a faster rate, increasing by 367.2 percent, 366.43 percent, and 221.43 percent respectively. The three leading industries of tourism, modern service, and high-tech saw 96,000 new enterprises, climbing 123.19 percent on a year-on-year basis.
In the future, Hainan will continue improving its government services through the reform of the cross-province business registration process, the application of digital certificate and seals, as well as the adoption of the "checklist plus commitment" system in the examination and approval of business projects.
It will also adopt a more flexible registration method to serve foreign-invested enterprises, improve the standards of regulatory enforcement, create a Hainan model for fair competition, increase law enforcement in areas like anti-monopoly and anti-unfair competition, as well as strive to build an open and unified market environment boasting orderly competition.
Overview
Haikou 
Sanya 
