Hainan drafts rules to attract foreign investors

The government of South China's Hainan Province is strengthening efforts to delegate approval and record filing rights for foreign investment projects in a bid to further attract overseas capital, domestic news site cnstock.com reported on Tuesday.

Foreign investment projects that were supposed to be approved by the provincial government will be handled at lower-level governments such as city, county and the Yangpu Economic Development Zone, the report said, citing local authorities.

And the right for record-filing of foreign investment projects will also be delegated to those lower-level departments. Such efforts will be conducive to creating a sound business environment and building the free trade zone in the island province, according to the report. 

The province will carry out high-level investment liberalization and facilitation policies and fully implement pre-establishment national treatment and negative list management system for foreign capital, the report noted. 

Hainan will also further open up medical treatment, education and internet industries,it said.