Hainan to allow foreign technical universities to implement independent study programs

Business & Economy January 14, 2021, 20:00

HAIKOU, January 14. /TASS/. China's Hainan will allow branches of leading foreign polytechnic, agricultural and medical universities to train students on an independent program that differs from the Chinese standard system of universities, stated the "Special Rules for Attracting Foreign Investors to Hainan's Free Trade Port" published by the Hainan administration. 

The document, prepared by the State Committee for Development and Reforms and approved by the Chinese State Council, should enter into force on February 1. It also lists measures to remove a number of restrictions on foreign companies planning to develop strategically important business areas on the Island of Hainan.

According to the new rules, the island authorities will make telecommunications more accessible. Foreign enterprises will have the opportunity to develop network data centers, to take an active part in the process of introducing new digital technologies.

According to the regulations, the Hainan administration is going to facilitate access for foreign capital to legal and consulting activities, to other types of commercial services. An important innovation will be the cancellation of the ban on attracting foreign investment in the mining of rare earth metals, radioactive minerals and tungsten. The provincial authorities will loosen restrictions in the auto industry as well.

In the future, the government will continue to gradually remove barriers for foreign enterprises to settle in the southernmost region of China, according to a spokesman for the State Development and Reform Committee. All of these measures are expected to increase the competitiveness of Hainan's free trade port, reduce risks and lower costs for investors.

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