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More than 138,000 enterprises registered on Hainan in 2019

The Hainan authorities register at least 570 new organizations daily

HAIKOU, September 20. /TASS/. More than 138,000 new enterprisess were registered 2019 in the southern Chinese province of Hainan, the island's administration reported.

According to the data published on the official page of the provincial government on WeChat, approximately 92% of all organizations registered since the beginning of the year are private enterprises.

"The conditions for business activity on Hainan are improving, and this explains the steady growth dynamics," said a representative of the local market control department. According to him, one of the reasons for the rapid increase in the number of market entities in the province is the introduction of unified business registration procedure. According to statistics, the Hainan authorities daily draw up the activities of about 570 new organizations. The most significant growth was observed among manufacturing companies and extractive industries, software manufacturers and telecommunication technology service providers.

The service sector is showing no less progress: the number of hotels, restaurants, companies involved in transport services, storage and delivery of goods is rapidly growing in the province. The number of organizations specializing in social projects has more than doubled compared to the eight months of 2018.

According to official statistics, there are 844,000 enterprises on Hainan. At least 3.200 foreign companies are operating on the island.

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