“One account, one window, and one-stop conclusion”, making it convenient and fast to invest in Hainan

The Overall Plan for the Construction of the Hainan Free Trade Port issued recently by the CPC Central Committee and the State Council marked a full implementation phase of the construction of a free trade port in Hainan. The construction of Hainan Free Trade Port cannot be achieved without the active participation of market entities. In the past two years, 444,000 new market entities have been added, an increase of 66% over that before the speech on April 13, 2018. In the meantime, Hainan has formulated 69 measures for the business environment according to the standards of the World Bank, which has achieved remarkable results in such aspects as minimal examination and approval, one-network handling, one seal for examination and approval, and one-stop service.

Led by Department of Commerce of Hainan Province and Hainan Big Data Management Department, One-Stop Investment Service in Hainan (hereinafter referred to as One-Stop Investment Service) is set up in conjunction with Hainan Market Supervision and Administration Bureau, Hainan Province People’s Government Affairs Service Center and other departments. It is an innovative measure for Hainan Province to further optimize the business environment and establish and improve the investment service system. One-Stop Investment Service is established to take full advantage of information technology to provide investors with one-stop full-process and top-quality services and improve the level of investment facilitation, enabling enterprises that come to Hainan for investment and development to enjoy real benefits in terms of investment liberalization and facilitation. 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.

Up to now, the development of main functions of One-Stop Investment Service has been completed, allowing 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.

Amid the full implementation phase of the construction of the Hainan Free Trade Port, the Department of Commerce of Hainan Province will further accelerate the construction of One-Stop Investment Service and continue to improve various functions. Efforts will be made to achieve more comprehensive information sharing, enhance the function of joint services, and provide better services for investors, enabling One-Stop Investment Service to play a greater role in the construction of Hainan Free Trade Port. Hainan will also partner with enterprises and investors worldwide in a more open manner to build Hainan Free Trade Port.

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