Over a hundred listed companies open in the Hainan FTP

According to Securities Herald, a professional securities and finance newspaper of the Hainan Daily Press Group, over one hundred listed companies began doing business in Hainan in the second half of this year, as the province is developing into a Free Trade Port. 49% of these companies are in new high-tech and modern service sectors, while the remaining 51% are in pharmaceuticals, public service, infrastructure, high-efficiency tropical agriculture, and other sectors.

Aerial photo shows Century Bridge, a landmark of Haikou, Hainan's capital city. FENG SHUO / HAINAN DAILY

The numbers reflect how government policies can influence the direction of industrial development. On May 10, 2021, the Hainan provincial government issued a three-year plan for investment in the Hainan Free Trade Port from 2021 to 2023. Hainan plans to build a "3+1+1" modern industrial system, that is, to encourage the development of the high-efficiency tropical agriculture industry and manufacturing industry, in addition to the three major industries on the island: tourism, modern services, and the new high-tech industry. Following the release of the investment plan, the tropical province has been working to attract more effective investment in several major industries including the "3+1+1" industries, as well as in infrastructure, public services, social investment, and more.

Free trade ports are regarded as the most open form of economic zones in the world. In comparison to other free trade ports around the world, the Hainan Free Trade Port is not only open to the whole world, but its development is also fueled by a large domestic market with huge potential. With more and more policies for high-level opening-up to be implemented in the near future, Hainan will surely become more and more attractive to investors from China and around the world.