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January 15, 2020

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Hainan eyes business development

South China’s Hainan Province will make continuous efforts to optimize the business environment in the Yangpu Economic Development Zone in a bid to facilitate the construction of the Hainan free trade zone and free trade port with Chinese characteristics.

As a state-level development zone established in 1992 in the northwest of Hainan, the Yangpu Economic Development Zone is expected to develop into a growth point of Hainan’s high-quality development and a pilot zone of Hainan free trade port.

The working and management committees of the Yangpu zone unveiled 40 measures in four fields, namely optimizing the business environment, promoting development of the advanced manufacturing industry, improving Customs clearance efficiency and introducing talent, as the latest moves to prepare for the construction of Hainan free trade port.

“The focus of building the free trade port is on creating a legal, international and convenient business environment,” said Ren Yanxin, vice director of the management committee of the Yangpu zone.

The process of applying for starting businesses in the zone will be shortened to one and a half workdays, Ren said.

Service windows for foreigners will be opened to provide better services for those who need residence and employment permits as well as foreign experts certificates.

Favorable measures will also be taken in areas such as investment, construction projects, administrative approvals and financial support for small and micro-sized firms.

Furthermore, Yangpu will support the enterprises in aspects including finance and taxation and investment in fixed assets, land, logistics and foreign trade.

According to the press conference, enterprises of advanced manufacturing such as aerospace equipment, new energy vehicles, integrated circuits and high-end medical equipment will enjoy preferential policies when settling in the zone.

Bordering on the Beibu Gulf in the southwest of China, Yangpu has a natural harbor, Yangpu Port, which is integrated into the New International Land-Sea Trade Corridor.




 

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