Economic Development Zone in Hainan Ready for Investors

Economic Development Zone in Hainan Ready for Investors

The Yangpu Economic Development Zone (EDZ) in south China's Hainan Province Wednesday hosted a conference to explain the advantages of its investment environment and preferential policies for investors.

Hainan Governor Wang Xiaofeng told the audience that since the zone was approved by the State Council in March 1992, the developer and local government have invested up to 4.5 billion Hong Kong dollars on port, road, electricity and other infrastructure facilities in the zone.

Now all the facilities are in place and the time is ripe for other investors to start their businesses in the zone, he said.

According to Zhu Xuancheng, head of the EDZ's administration, Yangpu is an EDZ, high-tech industrial zone and free-trade zone in one, and also enjoys the central government's preferential policies for special economic zones and ethnic minority areas, all of which have distinguished Yangpu from the other development zones in China.

Among all the preferential policies, enterprises in Yangpu would automatically have the rights to export and import independently. They could reserve their income in foreign currencies and remit their earnings out of China freely, he said.

About 500 government officials, business leaders, and representatives from foreign missions and chambers of commerce in Beijing were present at the conference.