HAIKOU, September 6. /TASS/. The creation of a free trade zone in China's Hainan province has attracted investment from Hong Kong, Macau and Taiwan to the region, reported Xinhua.
According to the media outlet, since 2018, 781 enterprises with the participation of investors from Hong Kong have been registered on Hainan, which is about 41% of the total number of companies with foreign capital established in the region. The total investment from Hong Kong amounts to about $ 4.75 billion, accounting for about 78.5% of the total.
At the same time, businessmen from Taiwan over the past three years have initiated more than 150 projects on Hainan investing $ 300 million. The Taiwanese investors mainly invest in high technology, services and agriculture.
According to the representatives of the provincial authorities, six industrial parks on Hainan have created special information platforms for companies from Hong Kong, Macau and Taiwan, which facilitate the exchange of information, obtaining services, communication processes and the introduction of scientific and technological developments into production. To date, these platforms are used by about 320 companies and 200 highly qualified professionals from these three regions. The total registered capital of these enterprises amounts to about 52.1 billion yuan ($ 8.1 billion).
On April 13, 2018, Chinese President Xi Jinping announced the creation of a pilot free trade zone and port on Hainan. The program aims to involve the island in globalization and the international distribution of labor, as well as to form a solid innovation base.