Hainan launches 100-day investor initiative

China's southernmost island province of Hainan launched a 100-day event starting on May 20 to attract global investment to help advance its development as a pilot international free trade zone.

The event will target the world's top 500 companies, leading industrial conglomerates and internationally well-known enterprises to start projects on the island or establish headquarters or regional headquarters in Haikou, capital of Hainan, or Sanya, a holiday resort city at the southern tip of Hainan, said government officials at a news conference on Sunday in Haikou.

Hainan Vice-Governor Peng Jinhui said the promotion event will welcome investment in the development of a headquarters economy, service agencies, industrial park construction platforms and industrial projects.

"Key areas set for enticing investors include tourism, high-efficiency tropical agriculture, medicine and healthcare, modern financial services, new and high-technologies, convention and exhibition, ocean economy, infrastructure, revitalization of rural areas and protection of the ecological environment," Peng said.

The initiative, which will continue to late August, is one of the measures announced to implement the requirements set by the central government to welcome investors from around the world to participate in the building of Hainan into an international pilot free trade zone.

Last month, while celebrating the 30th anniversary of Hainan's designation as a province, the central government unveiled plans to transform it into a pilot international free trade zone and gradually explore building a free trade port with Chinese characteristics.

"The 100-day event to attract investors does not mean we will no longer invite any investment in the future. Introducing outside investment will be a perpetual task and a crucial element to ensure the successful development of the Hainan pilot free trade zone (port), which presently does not have a well-developed economy," Peng said.

He said the city governments of Haikou and Sanya are drafting incentive policies for enterprises and international organizations that will build general or regional headquarters on the island.

The province will create a better environment for business people and enterprise innovation, and it will further advance construction of infrastructure on the island, he said.

On May 13, Hainan announced a plan to woo a million talented individuals from home and abroad, offering them preferential policies including loans and free housing.

Hainan has recently issued a large number of measures aiming at making solid progress in building the China (Hainan) Pilot Free Trade Zone and free trade port with Chinese characteristics and exploring a new open economic system.