Dezan Shira & Associates Holds Joint Event with Hainan IEDB and the Italian Trade Agency Ahead of the Expo with Italy as Guest of Honor
On Monday, December 5, 2022, Dezan Shira & Associates jointly held A Different Hainan, Your New Partner: Emerging Opportunities at Hainan Free Trade Port event with the Hainan Provincial Bureau of International Economic Development (Hainan IEDB) and the Italian Trade Agency in Beijing.
The webinar, moderated by Dezan Shira & Associates’ International Business Advisor in Milan, Giovanni Lovisetti, introduced the Hainan free trade port to Italian companies who are looking for a place to establish overseas ahead of the 2023 China International Consumer Products Expo (CICPE) where Italy will be the guest of honor.
This annual exhibition is hosted in Hainan to showcase medium-to-high-end consumer products in Mainland China. Country pavilions display overseas products allowing foreign companies to tap into the domestic Chinese market.
The Italian Trade Commissioner Beijing Office & Coordinator of ITA/ICE Offices in China and Mongolia, Mr. Gianpaolo Bruno, opened the event with a keynote address regarding the many opportunities for Italian businesses in China and Hainan.
Mr. Lovisetti introduced the Chinese island province of Hainan to attendees as well as the main topic of the discussion, the Hainan Free Trade Port, China’s largest special economic zone.
Guilherme Campos, Dezan Shira & Associates’ International Business Advisor in South China and who counsels companies in Hainan, broadened the perspective to discuss the location advantages of Hainan, which sits on the crossroads of major shipping lanes and trade blocs where free trade agreements are in effect, such as the RCEP free trade agreement.
Mrs. Huang Cui, the Hainan IEDB Beijing Chief Representative & Director for Liaison Department, then wrapped up the webinar by introducing strategic sectors and opportunities for foreign businesses, as well as discussing details of the CICPE which is organized by the Hainan IEDB.
If you have any questions about doing business in Hainan or are interested in exhibiting at the 2023 Consumer Expo, please get in touch with Mr. Campos.
Exploring Hainan and its free trade port
The Hainan free trade port (FTP) is being designed by the government to be a more liberalized economic zone than others in mainland China. In 2021, the island recorded an impressive 11.2 percent GDP growth YoY.
Preferential policies in fact, allowed more foreign capital to penetrate the actual economy in Hainan. In 2021, foreign companies invested US$3.52 billion with over 97 percent of that invested in the advanced manufacturing and modern services sectors.
Additional resources on Hainan:
- Investing in Hainan: Industry, Economics, and Policy
- Hainan Free Trade Port’s New Preferential Tax Policies: How Do They Apply
- Hainan’s 2021 Negative List for Services Investment: Translated Document.