China's Sanya establishes mechanisms to help local firms enter global markets

HAIKOU /China/, September 26. /TASS/. The city of Sanya on the southern coast of China’s Hainan Island has established mechanisms to help local companies rapidly enter international markets, Hainan Daily reported.

According to the newspaper, Sanya’s Central Business District (CBD) has played a key role in expanding and improving the quality of cross-border trade and economic cooperation as the regional free trade zone has taken shape. On June 30, it established a dedicated service platform to facilitate and strengthen ties between Hainan-based companies and their overseas partners.

According to official figures, the platform received registration applications from 26 organizations over two months, providing legal, financial and cross-border tax services. It also published more than 160 materials covering key industry developments, risks and strategic measures, as well as guidance on the specifics of other countries.

Companies seeking to enter foreign markets through the mechanism must meet officially established regulatory requirements. With the platform’s support, they can save time, quickly launch investment or production projects, and make international supply chains more flexible and efficient.

According to the newspaper, an increasing number of companies are seeking to use the institutional advantages of the Hainan Free Trade Port to enter international markets, including through Sanya’s CBD. Statistics show that it registered 32 new projects involving outbound direct investment in January-August, accounting for more than 86% of the city’s total during the period. The amount of registered Chinese investment capital exceeded $167 million. The number of such projects is expected to continue growing rapidly.