Data on the Hainan Free Trade Port’s breakthroughs
News source:hiHainan / By Cai Rong / 09 18,2020 17:03:12 / others

7 Billion Yuan

From July 1 to early September,
total sales of island-departure duty-free items has reached over 7 billion yuan.

Customer numbers have reached over 830,000, up 55% year-on-year. 

170 Million Yuan

Average daily sales of island-departure duty-free items in Hainan were around 130 million yuan, with the highest daily sales exceeding 170 million yuan. 

From July, 1, 2020, new policies on island-departure duty-free shopping began implementation, raising the annual duty-free shopping quota for each departing Hainan tourist from 30,000 yuan to 100,000 yuan, increasing the types of island-departure duty-free items from 38 to 45, and canceling the duty-free shopping quota limit of 8,000 yuan for a single item. 

On July 30, customers purchased duty-free products in the Haikou Mova Plaza Duty Free Store. (Photo / Yuan Chen)

From 0 to 1

As of now, Hainan has formulated 40 measures optimizing the business operation environment as well as 29 other measures, and released 85 system innovation cases in eight batches, changing the number of breakthroughs from 0 to 1. 

70%

Legislation was released implementing the reform of the most simplified approval in key industrial parks, decreasing approvals required by over 70% in 6 key industrial parks of the Hainan Free Trade Port.

The international trade “single window” integrated 179 investment services of 20 government affair systems in 13 departments, including attracting investment, market supervision, and project approval, decreasing materials submitted by enterprises by 55% throughout process and decreasing  time requirements and stages of the approval process by approximately 70%.

On July 10, Enterprise Service Center of the Sanya Central Business District staff served visitors. (Photo / Wu Wei)

11 Key Industrial Parks

On June 3, 11 key industrial parks of the Hainan Free Trade Port were unveiled simultaneously.

As of the first half of this year, there were 14,144 enterprises in the 11 key industrial parks, up 30.8% year-on-year. Operating revenue was 128.784 billion yuan, up 27.2% year-on-year. 2,145 talents working in all fields were introduced, up 37.3% year-on-year. The actual utilization of overseas capital was 195.15 million dollars, up 189% year-on-year. The amount of patent applications was 173, up 78.4% year-on-year.

160,000

From January to August this year, there were 162,600 newly added market entities in Hainan, a year-on-year increase of 19.8%, of which 75,000 were new enterprises, a year-on-year increase of 75.26%, ranking the highest in China, while 399 were new overseas-funded enterprises, a year-on-year increase of 83%. 

From June 1 to September 8, there were over 89,000 newly added market entities in the province, of which 48,000 were new enterprises, a year-on-year increase of 222.04%.

Aerial view of information industry office buildings in the Hainan Resort Software Community.  (Photo / Wang Kai)

20.6 Billion Yuan

Since June 1, the Hainan Free Trade Port has held two signing ceremonies, inking 94 domestic and overseas projects with an estimated total investment of 20.6 billion yuan.

On June 13, 35 key projects were inked at the first project signing ceremony, including 8 overseas-funded projects and 27 domestically-funded projects.

On August 13, 59 projects were inked at the second project signing ceremony, with an estimated total investment of 14.2 billion yuan.

 68.4 Billion Yuan

Since June 1, the Hainan Free Trade Port has held two work commencement ceremonies, which involved 272 projects with a total investment of 68.4 billion yuan. 

On July 13, the work commencement ceremony of the construction projects of the Hainan Free Trade Port (Second Batch) was held, starting the construction of 121 projects with a total investment of 28.1 billion yuan.

On September 13, the work commencement ceremony of the construction projects of the Hainan Free Trade Port (Third Batch) was held, starting the construction of 151 projects with a total investment of 40.3 billion yuan.

On July 15, Patrick Quinn of Ireland, the founder of tropicalhainan.com, communicates with a customer in Fullsing Town. (Photo / Yuan Chen)

40,000 Talents
From June to August, Hainan introduced 40,630 talents, with a growth rate of 1,476%.

From “4·13” to August 31 of this year, 138,625 talents were introduced, with a growth rate of 476.2%, of which 10,579 were international talents, a growth rate of over 50%.

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