The foreign direct investment (FDI) in South China's Hainan Province in 2018 more than doubled, compared with that in 2017, a record high for the province's FDI, according to the local newspaper Hainan Daily on Monday.
The report said there were 167 foreign-invested enterprises established in 2018, representing an increase of 91.95 percent over the previous year, and the FDI stood at $733.05 million, a growth of 112.68 percent year-on-year, citing data from local commerce department.
In September last year, the contracts for 26 foreign-funded projects were signed at the promotion fair in Hainan, and companies such as PwC, Deloitte, EY and KPMG expressed their interest of investment.
Hainan was one of the first special economic zones approved by the central government in its opening-up movement in 1978. In 2018, the island marked the 30th anniversary of the founding of the province and the special economic zone, as well as the 40th anniversary of the country's opening-up.
In October last year, the Chinese government unveiled a plan to grant Hainan the status as a free trade zone, promising fewer foreign investment restrictions in the future.
