The number of new market entrants in Hainan Province increased by 23.2% in 2020

The free trade port prospect supports all parties with enthusiasm for investment in Hainan. More than 280,000 new market entities emerged in Hainan Province in 2020, up 23.2% from the same period last year, of which the number of new businesses doubled.


According to data provided by the Provincial Market Surveillance Authority, 280,923 market entities have emerged in the province, up 23.20% over the same period last year.


In 2020, the province had 32,164 new market entities, up 8.92% over the same period last year, of which 12,457 new businesses, up 37.25% over the same period last year. From September to November, the province's new market units exceeded 30,000 for three consecutive months.


In 2020, more than 52,000 new businesses were added in twelve key industries, up 81.57% from the number of new businesses in the same period last year. Among them, the Internet industry, the modern financial services industry and the pharmaceutical industry showed the most notable results: 28 184, 808 and 52 new entries, an increase of 211.22%, 372.51% and 205.88% respectively over the same period. last year, as of the end of November, there were about 176.7 thousand enterprises in twelve key industries.


As of November 30, there were 1.156 million market entities in the province. Among them there are about 427,000 enterprises and about 730,000 self-employed households.


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