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Actual use of foreign capital in Hainan up 80%

ehainan.gov.cn | Updated: 2022-06-24

Statistics provided by the Hainan Provincial Department of Commerce on June 23 show that in the first five months of this year, 566 foreign-invested enterprises were newly established in Hainan and the actual use of foreign capital in the province reached $1.44 billion, up 80 percent year-on-year.

In this period, the actual use of foreign capital in Hainan's modern service industry was $1.3 billion, accounting for 90 percent of the province's total. Among them, the leasing and business service industry, scientific research and technical service industry, as well as the financial industry were the top three industries in terms of actual use of foreign capital.

This year, American Taipei Company, which owns well-known brands like Coach, announced the establishment of the group's China travel retail headquarters in Hainan. Companies like Dun & Bradstreet, a well-known business decision-making information and analysis service organization, Viatris Inc, a well-known pharmaceutical company, as well as Raffles, a leading private comprehensive medical group in Singapore, have also registered and established enterprises in Hainan this year.

In addition, many foreign-invested enterprises have been focusing on Hainan's tourism, modern service, high-tech, and tropical high-efficiency agriculture industries to develop industrial projects.

An official of the Hainan Provincial Department of Commerce said that they will plan and hold high-quality investment promotion activities, introduce high-quality projects, create a first-class business environment, as well as provide strong services for foreign-funded enterprises and projects, thus promoting the utilization of foreign capital.