The total number of registered enterprises in 11 key parks of industrial, technical and innovative development of Hainan's free trade port by the end of 2020 exceeded 38,200, according to the Hainan Daily.
The aggregate operating income of these enterprises over the past year amounted to about 466.53 billion yuan ($ 71.6 billion), which is 80.85% higher than in 2019. Tax revenue from their operating activities for the period totaled 39.53 billion yuan ($ 6 billion), an increase of 12.32% year-on-year. The key technology parks of the free trade port occupy no more than 2% of Hainan, but bring up to 35.7% of the total tax revenue to the provincial budget.
For instance, the publication writes, the operating income of the Yangpu Economic Development Zone last year increased by 35.25% in annual terms, to 161.33 billion yuan ($ 24.7 billion). The Central Commercial District of Sanya, in turn, has been able to draw 11 of the world's top 500 enterprises as well as five of the 500 largest enterprises in China by improving the business climate.
According to official data, in 2020 alone, about 20,000 new enterprises were registered in the province's key technology parks. By the end of December 2020, the volume of attracted investments in fixed assets of key technology parks in the province amounted to about 60.5 billion yuan ($ 9.2 billion).
In June 2020, the Chinese government published a program for the development of Hainan's free trade port. According to this document, Hainan will be turned into a special customs zone. The country's authorities expect to complete the creation of a free port on the territory of the province by 2025: by this time, a system for ensuring free trade and investment should be set up on the island.
By 2035, the free port and its model will take on a more mature form. By this time, it is planned to ensure freedom of trade and investment, cross-border movement of capital, people, and freight traffic in the Hainan province.
No comments:
Post a Comment