Hainan FTP to open more sectors to foreign investment


On October 28, China issued a new catalog of industries where foreign investment will be encouraged. The latest version of the catalog, which opens new sectors to foreign investment, will take effect on January 1, 2023.

The new catalog, jointly unveiled by China's National Development and Reform Commission (NDRC) and the Ministry of Commerce, will include a total of 1,474 items, newly adding 239 and modifying 167 existing items. 

Another 72 items are being added to the sub-catalog for China’s southern Hainan Province, which continues to boast the largest number of listed items of any province and region in the country.

Based on the new catalog, foreign investment projects in Hainan can enjoy a wider scope of preferential policies related to taxes, land, and other areas based on the relevant laws and regulations.

Aerial view of Haikou Port in south China’s Hainan Province. (Photo / Hainan Daily)

There are 22 new items in the sub-catalog for Hainan, focusing on the sectors of advanced manufacturing, information technology services, commercial services, education, medical care, and more.

The newly added items, which include new energy vehicles and accessory sales, industrial park management services, the production and processing of new types of medical equipment and materials, medical device outsourcing services, and high-end medical services, are expected to boost the high-quality, comprehensive development of the Hainan Free Trade Port in a wide variety of sectors.

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