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Foreign investment in Hainan's free port increased by 5.7 times in the first half of 2021

On June 1, 2020 the Central Committee of the Chinese Communist Party and China's State Council published a program for the formation of a free trade port on Hainan

HAIKOU, July 28. /TASS/. The volume of actually used foreign capital in Hainan's free port increased by 5.7 times in the first half of 2021, reported the Chinese Ministry of Commerce.

According to the ministry, in January-June, the number of newly established enterprises with foreign capital in the free port of Hainan increased by 3.9 times. The real estimation of the indicators is not provided.

As www.thepaper.cn reported earlier, in the first half of 2021, 979 enterprises with foreign capital were created on the island, which is 4.8 times higher than in January-June 2020. The volume of actually used foreign investments on Hainan reached $ 950 million, which is 7.2 times higher than in the first half of 2020.

On June 1, 2020 the Central Committee of the Chinese Communist Party and China's State Council published a program for the formation of a free trade port on Hainan. The document provides for the creation of a special customs zone on this tropical island. The Chinese authorities plan to complete the construction of a free port on the territory of the province in general in 2025, by which time a system for ensuring free trade and investment should be ensured on the island. By 2035, 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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