HAIKOU, January 24. /TASS/. More than 1,500 new enterprises were registered in 2020 in the state industrial development zone of high and new technologies in Hainan's Haikou, which is 553% higher than in 2019, reported the Haikou Daily.

During this period, the newspaper writes, agreements on 40 projects were signed between the enterprises within the framework of the work of the corresponding zone. The total investment in them exceeded 6.48 billion yuan (about $ 1 billion).

In 2021, the newspaper reports, the administration of this zone plans to use an innovative approach to create a new and improved mechanism for registering new businesses and a service platform for their maintenance.

These industrial development zones are an important part of Hainan's free trade port. The country's government in general expects to complete its creation by 2025: by this time, a system for ensuring free trade and investment should be created on the island.

By 2035, the free trade port 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.