Sanya number of newly added foreign companies quadruples in Q1

A total of 36 new business were registered in the first quarter of 2020 in Sanya, a 450 percent increase compared with the same period last year. During the three months, 16 foreign-funded enterprises settled in Sanya, up by 430 percent year-on-year, according to the city's investment promotion bureau.

The actual use of foreign capital hit $27.98 million, a year-on-year increase of 41.8 percent, marking a "best start" for Sanya in attracting investment in 2020, while laying the foundation for it to be a pioneer and a model in the construction of the Hainan Pilot Free Trade Port.

As the city fought against the COVID-19 pandemic, Sanya innovated ways of attracting investment and promoted an online investment model of "no-meeting" negotiation and services, and online contract-signing to ensure continuous work in business promotion. 

From January to March, the tropical city communicated with more than 200 enterprises and reached agreements with nearly 50 of them. 

In the future, Sanya will integrate the early policy arrangements of the free trade port, focus on tax-free consumption, tourism, yachting, finance, tax increase in settlement, international education, and professional services, as well as strive to attract investment and ensure that the annual investment targets are completed on schedule.