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More than 2,600 companies registered in Haikou's new business district in ten months

The administration of the new district of Jiangdong has already approved a plan to improve business climate

HAIKOU, November 18. /TASS/. The total number of new businesses registered in Haikou's Jiangdong District exceeded 2,600 units in the first 10 months of 2020. By the end of October, the local newspaper "Hainan Daily" writes, their total number reached more than 6,300.

The district's administration, the newspaper writes, is actively working to improve the business climate and simplify administrative registration procedures. Transactions on 15 positions for enterprises are now processed in a matter of seconds.

The administration of the new district of Jiangdong, the newspaper writes, has already approved a plan to improve business environment, and also adopted a roadmap for the implementation of the related tasks for the next three years. The Jiangdong District intends to use the best international practices, in particular Singapore, in terms of design and innovation, trade and investment facilitation, and free cross-border movement of people.

The creation of new districts, where the authorities are attracting various enterprises and high-tech companies, is an important part of Hainan's free trade port project, the development program for which was published on June 1. According to this document, Hainan will be turned into a special customs zone. The Chinese government expects to complete the creation of the free port in the province by 2025: by this time, a system for ensuring free trade and investment should be set up on the island.

By 2035, the free port and its model will become more solid. By this time, it is planned to ensure freedom of trade and investment, cross-border movement of capital, people, and freight traffic on Hainan.

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