To optimize the business environment in Hainan province, the Hainan Administration for Market Regulation, the Hainan Provincial Public Security Department, and the Hainan Provincial Taxation Bureau jointly issued a notice to improve investor experiences, as well as to shorten business registration time across the province to one working day before the end of 2021.
During the 13th Five-Year Plan (2016-20) period, Hainan improved the management systems of its key industrial parks and continuously attracted new investment.
China's island province Hainan cut 15.67 billion yuan ($2.36 billion) in taxes and fees in the first three quarters of 2020, with new preferential tax policies launched this year contributing to 73 percent of the reductions.
South China's island province recently launched a special policy to boost the development of high-tech enterprises and help them achieve high-quality development, Hainan Daily reported on Oct 29.
To speed up the establishment of a law-based, international, and convenient business environment to further unleash vitality and creativity among various market entities, as well as to accelerate the building of Hainan Free Trade Port (FTP), Hainan province has launched an action plan that has taken its unique conditions into consideration.
With numerous measures like simplified approvals, optimized services, and reduced barriers, China's island province Hainan has continued to construct a fair business environment for global investors.
The number of high-tech enterprises in Sanya, Hainan province reached 37, which is two times larger than that of 2018, according to a conference held on Aug 5 to brief high-tech companies about Sanya's preferential policies.
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