Hainan to boost the construction of One-Stop Investment Service to make services accessible for foreign investors

The State Council Information Office held a press conference on the Overall Plan for the Construction of Hainan Free Trade Port on June 8. Shen Xiaoming, governor of Hainan, said that Hainan Free Trade Port will strive to create investment liberalization and facilitation by implementing a policy of “entry unless on the list,” which means that, unless there are compulsory standards and legal prohibitions involved, the government, in principle, cancels permits and approvals, and replaces this with a system of filing and commitment by enterprises. The business can begin operating upon meeting the conditions. In the meantime, Hainan will implement a pre-entry national treatment plus a special free trade port negative list management system for foreign investment. If enterprises are engaged in the areas encouraged by the construction of Hainan Free Trade Port, the direct investment income from abroad can be exempted from corporate income tax.

Standing in the center of attention, Hainan will embrace enterprises and investors all over the world in a more open manner.

To further optimize the business environment and establish and improve the investment service system, Hainan Province actively pushes forward the construction of One-Stop Investment Service in Hainan (hereinafter referred to as One-Stop Investment Service) and takes full advantage of information technology to provide investors with one-stop full-process and top-quality services and improve the level of investment facilitation.

Integrating multiple systems across departments and improving the service system.

By way of data connection, process reengineering, single sign-on and link integration, One-Stop Investment Service integrates nearly 20 sets of government affairs systems of 13 entities, including Hainan Market Supervision and Administration Bureau, Hainan Provincial Department of Public Security, Development and Reform Commission of Hainan Province, and Hainan Provincial Department of Housing and Urban-rural Development. Also, the system for foreign-invested enterprise establishment, bank reservation for account opening and foreign exchange registration is independently developed, with data connected with 10 banks including Bank of China, Bank of Communications, and Postal Savings Bank of China. Through analysis and integration of market supervision and business department data, the information and relevant forms of foreign-invested enterprises are pushed to the banks designated by the enterprises, which reduces the bank account opening and foreign exchange registration materials of foreign-invested enterprises, and puts into practice the measures of “online handling” and “reservation for handling” for service matters.

Unifying entry and identity authentication to achieve data reuse and sharing connectivity.

One-Stop Investment Service establishes a “one account pass” service system, which realizes one-time registration and unified entry, and effectively solves the problem of repeated registration of multiple accounts and multiple verifications caused by the inability of enterprises to exchange account information. Through the open sharing of data reuse and electronic filing information, the materials required for the investment process are integrated and optimized, and the information filled in by enterprises and the relevant certificates approved are obtained automatically, thus forming a “one-window handling” service system for inter-departmental and cross-level enterprise investment to avoid repeated submission of materials and minimize enterprises’ cost in handling time.

In view of the establishment process reengineering of foreign-invested enterprises, the filing approval for foreign investment has been replaced with commitment and notification of foreign investment information reports. The relevant handling procedures and materials involved in social security registration, tax registration, public security seal engraving, provident fund registration, bank reservation for account opening and foreign exchange registration in the establishment of foreign-invested enterprises are integrated and optimized, which effectively cuts short the forms of market access for foreign-invested enterprises. The handling time for establishing a foreign-invested enterprise is reduced to 2 working days, thus truly realizing the goal of “Data Better Serves People”.

Integrating the full chain service of investment before, during and after the event.

One-Stop Investment Service has set up a one-stop consultation service window for foreigners in Hainan Province People’s Government Affairs Service Center. Relying on Contact Hainan, a foreign investment service hotline is set up to uniformly accept foreign investors’ consultation and complaints. Bilingual services are promoted in various service trades, and a bilingual public catalog and service guide for affairs handling has been compiled, initially forming a foreign investment consulting service mechanism. Through the process reengineering of 170 high-frequency, inter-departmental, cross-level and interdisciplinary investment government services, enterprises can be intelligently guided to handle affairs accurately and individually, so as to create the whole-process government service “package”. Such theme services as talent identification, vehicle purchase, house purchase and medical treatment are launched for enterprise employees, to create “housekeeper” life service for investors.

Achieving full-chain monitoring and statistical analysis.

With one-stop integration of the whole investment process and the sharing of data and information, One-Stop Investment Service offers whole-process tracking of the approval of enterprise establishment, change and de-registration (simple de-registration, general de-registration), etc. Enterprises can see the handling course in real-time, thus improving the transparency of law enforcement. The establishment of big data analysis and display platform also enables the visual interactive display of investment-related data. Thorough control of all aspects of investment and data association analysis is achieved by regular collection and integration of the business data of the whole investment process, which provides data decision-making support for investment management departments to formulate policies and optimize the business environment.

Up to now, One-Stop Investment Service has allowed users, by registering an account, to handle online the whole-process business of domestic and foreign-funded enterprises (including registration, change, de-registration), foreign investment information report, foreign exchange registration, bank reservation for account opening, enterprise seal engraving, invoice application, pre-approval handling of enterprises in Negative List, project approval or filing, construction project application, social insurance registration inquiry, vehicle purchase quota application, real estate inquiry, house purchase online signing record and inquiry, provident fund management, etc. Through system integration and optimization, One-Stop Investment Service has realized a reduction of materials, time, links and visits in the whole investment process.

Since its launch in April 2019, a total of 413 foreign-funded enterprises have handled 658 investment-related businesses online through One-Stop Investment Service. From January to May 2020, a total of 150 foreign-funded enterprises were established.

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