The Hainan Free Trade Port (FTP) in south China has seen establishment of additional 1,320 foreign-funded enterprises in 2022, setting a milestone achievement in absorbing foreign investment, according to the Hainan's commerce department.

The actual use of foreign capital surpassed 4 billion U.S. dollars, up 15 percent year on year in Hainan last year, with optimized structure of foreign capital utilization.

The actual use of foreign capital in the modern service industry stood at 3.7 billion U.S. dollars, up around 16 percent year-on-year, and its proportion in total foreign capital utilization increased from 61 percent in 2018 to 92 percent in 2022.

Among them, the actual use of foreign capital in leasing and business services, finance, scientific research and technical services has achieved rapid growth, increasing by about 279 percent, 354 percent and 2,959 percent respectively year-on-year.

"With the release of the master plan for the Hainan FTP and the preferential policies, there have been 291 foreign-funded enterprises from 22 countries and regions registered in our industrial park so far, and the actual use of foreign capital in the park has exceeded 200 million U.S. dollars," said Wu Qingji, general manager of Hainan Fullsing Town Industrial Park Investment Management Ltd.

Last year, 127 countries and regions made investments in Hainan. The number of market entities funded by capital from European countries and the United States and their actual capital arrival increased significantly.

The top five capital sources were China's Hong Kong and Taiwan, the United States, Singapore and Canada.

The actual use of capital from the UK in Hainan reached 350 million U.S. dollars, an increase of around 192 percent year-on-year.

Foreign-funded enterprises from all G20 member countries and almost all RCEP member countries have set footprints in Hainan.

At the end of 2022, the Hainan Provincial People's Governmental sent out delegations to launch investment promotion activities in China's Hong Kong, Japan and Germany.

"During our investment promotion in Hong Kong, Sanya has closely connected with nearly 20 enterprises and successfully negotiated nearly 30 projects. We sincerely invite those enterprises to boost the development of our industries and projects," said Li Jie, deputy director of Sanya Investment Promotion Bureau.

In 2023, Hainan plans to constantly optimize policies to attract investment, hold high-quality investment promotion activities, and strive to bring in more landmark foreign-funded projects, so as to expand foreign capital utilization in both scale and quality.