Hainan Investment Climate Introduction
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Hainan always has been a pioneer in reform and opening-up. It is the smallest and southernmost province of the People's Republic of China, consisting of various islands in the South China Sea. As China's only tropical island, Hainan has jurisdiction over 2 million square kilometers of sea area and enjoys abundant land and marine resources. Tourism plays an important part of Hainan's economy, thanks largely to its tropical beaches and lush forests. In the just-finished Baao Asian Forum, Chairman Xi jinping highlighted the further opening up of Hainan. It can be said that Hainan will embrace a economic boom in the near future.
Geographical Location
Situated at the southernmost tip of China, Hainan overlooks Guangdong across the Qiongzhou Strait to the north, Vietnam across the Beibu Bay to the west and Taiwan across the South China Sea to the east. Its neighbors in the South China Sea include the Philippines, Brunei and Malaysia.
Hainan Island is the largest island under PRC control and the largest Special Economic Zone in China. The area of Hainan Island is similar to that of Belgium. To the west of Hainan Island is the Gulf of Tonkin; to the south is the Southeast Asian countries. It is the key node of the Maritime Silk Road and the best choice for establishing a free-trade port.
Abundant Resources
Hainan is rich in tourism resources and aquatic resources. Grain crops and economic crops are widely cultivated. It is an ideal place for the development of tropical marine fishing in China. The resources of animal and plant medicinal materials are abundant and is known as the "natural pharmacy store".
Hainan's economy is predominantly agricultural, and more than a half of the island's exports are agricultural products. Hainan's elevation to province-level status (1988), however, was accompanied by its designation as China's largest "special economic zone", the intent being to hasten the development of the island's plentiful resources.
Preferential Policies
To develop the island into an international tourism and consumption center, China plans to make the offshore duty-free shopping policy in Hainan to cover all outbound tourists. Currently Hainan has two duty-free shops, with one in the provincial capital of Haikou and the other in the resort city of Sanya on the southern tip of the island. Modern services including medical care and finance should be a major pillar of Hainan's economy, especially tourism, as being an international tourism destination is drawcard of Hainan.
Future Development
Hainan always has been a pioneer in reform and opening-up, with Boao serving as a bridge to the outside world. Being the country’s only provincial-level special economic zone, Hainan will accelerate the building of an open economy, advance international industrial cooperation and enhance the development of service businesses as a national pilot zone. Hainan, which marks its 30th anniversary as a province, is ready to embrace a new era for opening-up.
Hainan has established sister relationships with 56 overseas provinces and cities worldwide. According to the State Immigration Administration, China will offer greater visa-free access for tourists from 59 countries to Hainan from May 1, in a move to support reform and opening up in the country's southernmost island province.
Contact Us
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