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在线翻译:
szdaily -> Business -> 
Hainan reports robust FDI growth
    2021-04-13  08:53    Shenzhen Daily

THE southern island province of Hainan has seen robust growth in foreign investment inflow and new market entities as it continues to improve its business environment, officials said yesterday.

Total direct foreign investment (FDI) into the island, in actual use, amounted to US$5.27 billion over the past three years, or over half of the total inflow in the last three decades, according to Shen Xiaoming, Party chief of Hainan. The capital came from more than 80 countries and regions, Shen said.

Shen unveiled the data at a news conference held in Beijing about policy and institutional progress for developing the Hainan free trade port, highlighting the region’s efforts including promoting a negative list-based mechanism to ease market access.

The island also seen registration of some 763,000 new market entities over the past three years, Shen revealed. This was close to three times the number in 2019.

“Hainan has become a ‘new hot spot’ for global investment,” the province’s governor, Feng Fei, said yesterday at the same press conference.

China’s only tropical island has been at the core of the country’s strategic blueprint of further opening up since June 1, 2020, when China released a master plan for the Hainan free trade port to build it into a globally influential duty-free trading center by the middle of the century.

Hainan enjoys the shortest foreign investment negative list. The free trade port’s negative list has 27 items, down from the 33 and 30 items of the 2020 versions of the national and pilot free trade zone foreign investment access negative lists.

Negative lists define industries in which foreign companies cannot invest and specify restrictions or bans on certain types of foreign investment in China.

Hainan has the lowest corporate tax rate. Enterprises in Hainan enjoy a tax rate of 15 percent, compared to 25 percent in other regions in China.

“These two policies are unique in the country,” Feng said.

(SD-Xinhua)

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