Is it difficult for foreign investors to start a company in Hainan? Shi Chunde, an American Chinese who wanted to open a business in Hainan was intrigued by the prospects of the Hainan Free Trade Port, but thought registering the company might be challenging.

In the past, there were requirements for international business owners to provide identity documents issued by their local authorities, which often took 1 to 3 months to obtain. Moreover, international investors couldn't use the "Hainan e-Registration" platform for online applications and had to rely on intermediaries or in-person methods.

To address these issues, the Hainan Administration for Market Regulation recently optimized the "Hainan e-Registration" system, launching bilingual electronic forms. For the first time in China, this allowed citizens of other countries with Chinese permanent residence permits to authenticate their identities and sign documents electronically, eliminating the need for additional identity documents.

As a result, Shi Chunde's concerns turned to delight as he received the business license for his new company in Hainan within a day. This initiative has benefited 411 Hong Kong SAR investors and 35 international business owners with Chinese permanent residence permits.

To further facilitate foreign investment, Hainan has achieved five national "firsts":

1. Simplified notarization documents for non-natural person investors from Hong Kong and Macao SAR.

2. Fully electronic processing for some foreign-owned enterprises.

3. A reduction in materials, steps, and processes for foreign-owned enterprise registration.

4. A direct registration system for foreign-owned enterprises.

5. Setting up three "one-stop" service chains.

Additionally, Hainan adopted Hong Kong's "non-Hong Kong company" registration model, allowing foreign-owned enterprises to engage in service trade without establishing a Chinese business entity. So far, 129 foreign-owned companies have entered Hainan under this direct registration system.

With these measures, investing in Hainan has become more convenient, attracting more foreign capital. As of the end of June, the province had 9,170 foreign-owned enterprises, an 18.87% year-on-year increase.