SANYA, September 5. /TASS/. China's engineering corporation Sinomec, enlisted in world's top 500 biggest enterprises by Fortune magazine, opened a branch in the province of Hainan. According to www.hinews.cn, the office in Sanya will help facilitate the new energy projects on Hainan and implement the initiatives within the free trade zone framework.
China Sinomec is one of the key state enterprises in China, controlled by the central authorities. Over the years the company has received the highest government rating in terms of management effectiveness. The company focuses on energy, investment, energy engineering, energy technologies research and other areas, including environmental projects, chemical industry and recycling.
“Hainan is accelerating the creation of a pilot free trade zone and a free trade port with Chinese characteristics. Relying on strong state support, Hainan's investment environment is also becoming more open. All this will attract more capital and technology, attract more world-class talents, which will help promote development.” Hainan economy, "quotes the portal as saying the general director of the Hainan branch of the company is Li Shuanghui.
In April 2018, President Xi Jinping said that the Chinese authorities intend to actively involve Hainan in globalization and to draw foreign investors to the island province. By 2050, according to the authorities, the island should become a unique international cluster with an advanced economy, developed tourism, top-notch scientific, technical and financial potential, and modern medicine. The branches of the best universities and offices of the most powerful corporations in the world will be located on the Island of Hainan.