Hainan continues to take measures to expand its opening-up to the outside world
According to TASS on January 18th, Hainan Province in China recently announced that it will create a better environment for foreigners to work and live in Hainan
It was reported that this year's work report of the Hainan Provincial Government clearly proposed that the work permit system and service management measures for foreigners should be optimized to improve the level of facilitation
Yu Wenzhong, Deputy Director of the Deep Reform Office of the Hainan Provincial Committee of the Communist Party of China, pointed out at the press conference of the two sessions of the province that Hainan will explore the full electronic processing of foreign-funded enterprises for overseas personnel in "Hainan e-registration" in 2024, and the multi-functional free trade account will be launched and operated, with a cross-border revenue and expenditure scale exceeding 100 billion US dollars
He also mentioned that the entire island of Hainan allows the establishment of wholly foreign-owned hospitals and allows foreign-funded enterprises to engage in the development and application of human stem cell, gene diagnosis and treatment technologies in the Hainan Free Trade Port
He said that another achievement of the construction of Hainan Free Trade Port was to optimize and upgrade the visa free policy for 59 countries to enter Hainan, expand the reasons for visa free entry, and extend the stay time. The number of visa free entries in the whole year exceeded 350000, more than three times the year-on-year growth
Yu Xiang, Deputy Director of the Department of Commerce of Hainan Province, introduced that Hainan overcame the severe external situation last year and achieved counter trend growth in goods trade and service trade. The total import and export volume of goods trade for the year was 277.6 billion yuan, a year-on-year increase of 20%, and the import and export volume of service trade was 56.7 billion yuan, a year-on-year increase of 24%. The actual scale of foreign investment utilization ranks tenth in the country
He stated that Hainan will continue to improve the service mechanism for foreign-invested enterprises and provide full lifecycle service guarantees for foreign-funded projects. Continue to carry out international investment promotion and introduce more high-quality and iconic foreign investment projects
Yu Xiang also stated that by 2025, Hainan will firmly stabilize the good trend of foreign trade growth and help enterprises reduce costs and increase efficiency
According to reports, in April 2018, the Central Committee of the Communist Party of China decided to support the construction of a free trade pilot zone throughout Hainan Island. This decision aims to further involve Hainan in the process of globalization and international labor allocation, laying a solid foundation for innovation. Local governments create an attractive business environment for investors and develop scientific and industrial infrastructure. According to the overall plan for the construction of Hainan Free Trade Port, the business environment will reach a first-class level in China by 2025, and a high-level free trade port with strong international influence will be fully built by the middle of this century
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