HAIKOU /China/, June 27. /TASS/. Chinese businesspeople living and working outside the PRC see great prospects for working with the southern Chinese province of Hainan, thanks to the multifunctional free trade port, according to a report by China News Service
A recent seminar in Haikou brought together around 40 representatives of the Chinese community abroad from 37 countries and regions around the world, according to the news service. The purpose of the seminar was to discuss new opportunities and prospects for doing business in Hainan. "I learned about the policy related to the multifunctional account in the Hainan Free Trade Port, so I immediately booked a ticket to come here and learn more," said Chinese businessman Wu Meizhuan, who lives in Iran and sees great commercial prospects in this.
The establishment of a multifaceted trading account for the Hainan Free Trade Port is a significant step intended to enhance autonomy and streamline trade and investment processes in the province. The project launched on May 6, 2024. According to the report, the account supports various business scenarios, including cross-border trade settlements and foreign investment. As of May 8 of this year, the total business volume through this mechanism exceeded 120 billion yuan.
The education industry is another attractive investment area for businesspeople from the Chinese community abroad. "Hainan's educational resources should be more diverse and international," said Qin Biin, vice president of the Canada-Hainan Chamber of Commerce and Industry. He returned to his hometown to open a private school that combines Chinese and foreign educational concepts. "This will allow us to offer high-quality Canadian programs, meet the needs of local industries, and educate talented professionals in various fields," he said.
Over the course of five days, Chinese businesspeople living abroad will gain a deeper understanding of Hainan's free trade port policy through special lectures, tours, and other events. According to an official from the Foreign and Overseas Chinese Affairs Office of Hainan Province, the experience and resources of overseas Chinese are an important driving force in the development of the Hainan Free Trade Port. The main areas of application for these resources are expected to be tourism, modern service industries, and high-tech manufacturing.