According to the Provincial Market Supervision Bureau, 201,000 market entities registered in Hainan Province in the first three quarters of this year, a year-on-year increase of 22.91%.
Among them are 98,700 new enterprises, a year-on-year increase of 106.66%. The growth rate is ranked first in the country.
Despite the impact of COVID-19, corporate investment in Hainan has still remained active, especially since the “Overall plan for construction of Hainan Free Trade Port” was announced. Domestic and foreign investors are continuing to take up the opportunity to invest in Hainan.
Statistics show that in June, new market entities registering across the province exceeded 23,300, a year-on-year increase of 52.33%.
In July, new market entities registering across the province exceeded 25,300, a year-on-year increase of 36.66%.
In August, new market entities registering across the province exceeded 27,000 participants, including more than 14,700 enterprises (a year-on-year increase of 250.76%).
In September, there were more than 38,300 new market entities, including 23,400 enterprises (a year-on-year increase of 367.69%).
By the end of September, there were 1.0914 million market entities in Hainan. Among them, 394,000 were enterprises and 697,400 were self-employed.
New enterprises across key industries
In the first three quarters of this year, a total of 41,000 new enterprises were added to the 12 key industries in Hainan, a year-on-year increase of 103.61%.
As of the end of September, there were 167,000 enterprises across the 12 key industries, accounting for 42.39% of the total number of enterprises.
The Internet, modern financial services and the pharmaceutical industry grew at a rapid rate, increasing by 367.2%, 366.43%, and 221.43% respectively.
The 3 leading industries of tourism, modern service industry, and high-tech industries totalled 96,000 new enterprises, a year-on-year increase of 123.19%.
The relevant person in charge of the Provincial Market Supervision Bureau stated that in future, Hainan will continue to reduce the time, steps and costs for enterprise establishment and to promote a trans-provincial service and adopt more flexible registration methods to serve foreign-invested enterprise registration.
He said they aim to comprehensively improve and standardize regulatory enforcement to create a “Hainan model” of fair competition, increase law enforcement such as anti-monopoly and anti-unfair competition, and strive to build an open, unified, and orderly competitive environment.
Source: Provincial Market Supervision Bureau
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