Actual use of foreign capital in Hainan up 54% in Jan-April

Updated: May 23, 2022 Print
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An aerial view of Haikou, capital of Hainan province. [Photo/VCG]

Statistics provided by the Hainan Provincial Department of Commerce on May 19 showed that from January to April of this year, the actual use of foreign capital in Hainan was $1.04 billion, a year-on-year increase of 54.08 percent.

In terms of industries, the actual use of foreign capital in Hainan's modern service industry in this period was $900 million, accounting for 87 percent of the total. In terms of cities and counties, the actual use of foreign capital in Haikou, Sanya, and Danzhou increased by 9.22 percent, 2,423.67 percent, and 231.54 percent respectively over the same period last year.

Since the beginning of this year, Hainan has made great progress in attracting foreign investment. In January, more than 30 multinational companies inspected Hainan to find business opportunities for cooperation. In March, an Austrian business delegation came to Haikou for an inspection tour, with more than 10 companies from the country finding business opportunities for cooperation.

The rapid expansion of foreign investment has propelled Hainan's use of foreign capital this year. Several key industrial parks and key industries have achieved new breakthroughs in the utilization of foreign capital.

Xinle Shipping's vessel Ma Yue, an oil products tanker, has just completed import customs clearing processes in Yangpu Port. This vessel is the first international ship registered at Yangpu Port that is owned by a foreign-funded company, demonstrating the attractiveness of the Hainan Free Trade Port.

In April, KWS SAAT SE & Co. KGaA, a world-leading seed supplier from Germany, established its Chinese R&D headquarters in Sanya Yazhou Bay Science and Technology City. It marks the first foreign-funded agricultural R&D center to settle in the industrial park.

Currently, many foreign-invested enterprises are focusing on Hainan's tourism, modern service, high-tech, and tropical characteristic high-efficiency agricultural industries, as well as developing projects to further their investment in the Hainan FTP.

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