Hainan's actual use of foreign capital surges in 2022

Yangpu International Container Terminal. [Photo/IC]

The scale of actual use of foreign capital in Hainan province has surged thanks to the Hainan Free Trade Port policy dividend. According to the Hainan Provincial Department of Commerce, 1,320 foreign-invested enterprises were established in Hainan last year, and the actual use of foreign capital reached $4.05 billion, up 15 percent year on year.

Last year, the structure of foreign capital utilization in Hainan continued to be optimized. The actual use of foreign capital in the modern service industry was $3.74 billion, up 16.1 percent year on year, and the proportion of total foreign capital increased from 61 percent in 2018 to 92 percent.

In 2022, there were 127 countries and regions investing in the province, and the number of foreign capital market entities in Europe and the United States and their actual capital arrivals increased significantly. The top four countries with newly established enterprises in Hainan are China, the US, Singapore and Canada, and the top two regions are Hong Kong and Taiwan.

A number of internationally renowned enterprises settled in the Hainan FTP last year. In the field of high-end consumption, the effect of the China International Consumer Products Expo is obvious, as it made a large number of enterprises such as LVMH, Estee Lauder, and Tapestry invest in Hainan.

This year, Hainan will continue to optimize the policy environment for attracting foreign investment, hold high-quality investment promotion activities, and do a good job in foreign-funded enterprises and project services. The province will create a first-class business environment to introduce more landmark projects for foreign investment.