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Hainan's Haikou presents the plan on bettering business climate

18 key indicators were established to control the plan's implementation

HAIKOU, October 16. /TASS./ The Haikou authorities (the administrative center of Hainan) have unveiled a plan to better the business climate for 2020-2025, reported

According to the news outlet, the measures were taken to promote the construction of Hainan's free trade port. The document includes three key initiatives: providing high-quality services to companies, promoting investment, and strengthening monitoring of the development of business environment.

The first initiative includes accelerating and optimizing the process of creating new enterprises entering Haikou's market, as well as improving the regulations in this area, improving the protection of the legitimate rights and interests of companies. Investment promotion means improving corporate finance, creating unified dispute resolution services. Boosting monitoring includes improving the quality of public services provided to companies, enhancing the system for protecting intellectual property rights.

According to the news outlet, 18 key indicators were established to control the plan's implementation. By 2022 they should reach the "good" mark, by 2025 — hit the "excellent" mark.

The authorities presented a plan for the free trade port’s development on June, 1. In accordance with the plan, the Hainan province will be turned into a special customs zone. The country’s government intends in general to wrap up the creation of the free trade port on the island by 2025: by this time the island should acquire a system to ensure free trade and investments. 

By 2035, the free trade port and its model will become more solid. By this time, Hainan intends to ensure the freedom of trade and investments, trans-border movement of capital, people and shipping.  

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.