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International Commercial Court established in Haikou

The court was formed by the Intermediate People's Court of Hainan Province and the Jiangdong District Administration

HAIKOU /China/, December 23. /TASS/. The first International Court of Civil and Commercial Affairs has been established in the new Jiangdong district of China's Haikou city on Hainan, The Hainan Daily reports.

The court was formed by the Intermediate People's Court of Hainan Province and the Jiangdong District Administration. This comes on the back of the rapid growth of international business ties in this urban area.

The new court will provide local services, including credit investigation and judicial consultation, and will explain laws and regulations to Chinese and foreign investors in order to improve their working conditions in Hainan's free trade port. It will also be responsible for dispute resolution and litigation. All this is intended to increase the investment climate in the province's economy, the newspaper writes.

A total of 332 foreign-funded enterprises are registered in Jiangdong District. The planned area of the district to be built is almost 300 square kilometers. It should contain industrial and residential facilities, ecological buffer zone with a nature reserve.

The annual growth rate of the number of foreign enterprises in the area is about 232%. Over the past two years, real foreign capital investment has exceeded $1 billion.

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