Over 310,000 new market entities settled in Hainan in 2020, an increase of 30.86 percent year-on-year. The island province saw an addition of 150,000 enterprises in 2020, double the figure for 2019.
The open trade and investment policies in the Hainan Free Trade Port focus on creating a law-based and convenient business environment for domestic and foreign investors. In June 2020, when the master plan for the construction of Hainan FTP was unveiled, the total number of market entities in Hainan had exceeded 1 million. By the end of 2020, the figure had increased to 1.2 million.
"Hainan FTP's policies are very attractive and there is a promising future of investment in Hainan; we will increase our investment," said Fabrice Fourcade, EDF's chief representative in China.
In terms of industries, the newly-added market entities primarily cover wholesale and retail, information transmission, software and information technology services, leasing and business services, which together account for 73.33 percent of the total.
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