Hainan province launches initiatives to introduce foreign investment

In November 2018, Hainan province launched a series of measures to introduce foreign capital, including streamlined business services, an improved legal system, integration with international investment and trade, advanced opening-up, and promotion of construction of the Hainan Pilot Free Trade Zone and the Hainan Free Trade Port with Chinese Characteristics, to make Hainan a new model for opening up.

Main content:

Improve infrastructure.

Speed up the construction of optical networks, power grids, road networks, gas networks and water networks.

Establish and improve the investment promotion mechanism in line with international standards.

Streamline and optimize service for foreign-funded enterprises through establishing a single service window.

Implement the post-establishment national treatment, the negative list, and the "entry unless on the list" policy by which all foreign-funded enterprises not on the negative list can enter the Chinese market equally in accordance with the law.

Streamline the recording and registration of foreign-funded enterprises so that all items are now handled at one window, without the applicants' presence on the Internet to minimize the time spent by foreign enterprises in applying for establishment.

Establish and improve one-stop bilingual consultation services for foreign investors, set up a foreign investment service hotline to accept consultation and complaints of foreign investors, promote bilingual services in the window, and compile a public directory of bilingual services and service guides.

Establish the Hainan Investment Attraction Network in Chinese, English, German, French, Spanish, Arabic, Russian, Japanese, and Korean, improve convenience, internationalization, and technical compatibility, update the functions of information release, investment consultation, and administrative examination and approval, and coordinate with the government big data platform to continuously attract investment.

Establish and improve the third-party investment promotion mechanism.

Introduce powerful multinational companies, especially Fortune Global 500 companies, international industry organizations, international investment and management agencies, and international accounting and auditing, architectural design and rating service agencies to  form a pattern in which investment of one enterprise attracts investment from others.

Optimize the investment environment.

Introduce and improve foreign-related professional institutions and professionals in law, accounting, arbitration, notarization, intellectual property rights, multilingual translation and other fields, and perfect the rule of law.

Speed up the construction of supporting facilities such as international apartments, household service, culture and entertainment facilities, improve the internationalized, convenient and personalized community service system according to the functional orientation of industrial parks, and create conditions for foreign-funded enterprises to settle down, stay and develop well.

Introduce high-quality international education and medical resources, build high-level international schools and hospitals in places where foreign enterprises are concentrated, solve the problem of medical insurance, and meet the needs of the children of employees of foreign-funded enterprises for schooling and medical treatment.

Implement the action plan of Introducing 1 million talents to Hainan, build a dynamic, efficient, more open, and more competitive talent system, improve cross-border employment management so that more high-tech talents, senior managers and service personnel can work in China, and accelerate the introduction of talents for whom there is urgent demand.