HAIKOU, September 1. /TASS/. The total number of new market entities registered on Hainan in January-July 2020 amounted to 135,000, which is by 30.5% more than in the same period in 2019, according to hnrb.hinews.cn.
In July alone, the newspaper reports, 25,300 new market entities were registered on Hainan. The growth of this indicator in annual terms amounted to 33.66%. About 14,100 of them for the specified period were enterprises. The daily average growth currently stands at about 800 market entities.
Thus, the newspaper writes, by the end of July on Hainan, a total of just over 1 million market entities were registered. At the same time, there is a significant increase in the volume of investments from companies from other regions of the country and from abroad. According to the news outlet, by the end of the first half of 2020, the province received investments from more than 30 countries.
The newspaper writes that the local authorities have succeeded in significantly simplifying the procedure for registering new enterprises and approving investment projects, including those with foreign capital through an integrated system. All this creates favorable conditions for investors in the province.
In June the Central Committee of the Communist Party of China and the Сhinese State Council published the “General Program for the Establishment of a Free Port on Hainan,” according to which the island’s administration intends to create an effective system to fulfill a number of important social and economic goals by 2025, and within 10 years to decisively enhance the innovative mechanisms for the region's development.
By 2025, the Chinese government intends to create an "international center for tourism and consumption" on Hainan. In order to do so, the "Eastern Hawaii" with their unique natural landscapes, thick rainforests and great climate will establish a developed network of hotels, which blend perfectly with white sandy beaches stretching along the coastline. The combination of an exotic subtropical nature and a modern eco-friendly infrastructure will boost tourist inflow to the island from the most distant parts of the world.