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Hainan FTP: First 10+ Japanese firms sign up for cooperation
UpdateTime:2023-04-27 author:Chen Shumin source:HICN

On April 23, the Hainan Provincial Bureau of International Economic Development and the municipal government of Haikou inked an agreement to jointly create a one-stop investment service center to promote cooperation between the Hainan Free Trade Port (FTP) and Japanese enterprises.

Located in the Haikou Dayingshan Central Business District, the Window to Global Trade (WGT) plays a key role in attracting foreign investment in Hainan province. (Photo / Hainan Daily)

The center is set to help more Japanese enterprises explore cooperation in transnational supply chains by taking advantage of the Hainan FTP policies, bringing more Japanese premium consumer products to Hainan and the Chinese market.

So far, over ten Japanese firms, including Nippon Express (a logistics giant), Aucfan (a well-known Japanese online platform providing e-commerce price analysis), Fujisaki, Hejiang Youpin, and Kintetsu, have signed on the dotted line to enter the center.

The Fujisaki supply chain management company has helped several Japanese enterprises to relocate their Chinese or regional headquarters to Hainan over the past years.

According to Xu Jingyi, president of the company, they will continue to encourage more Japanese enterprises to establish regional headquarters in Hainan by capitalizing on the preferential policies of the Hainan FTP, developing comprehensive cooperation in the fields of goods trade, high-end agriculture, advanced manufacturing, and medical treatment & health care.

A representative from Nippon Express said that they are excited about the prospects of Hainan’s logistic market since a series of policies supporting commercial development were implemented and in light of the smooth progress being made toward the FTP’s independent customs operations..

Asahikoushin Group, a garden product trading company, has worked with Kintetsu Department Store since 2020 to have their products showcased in the Sanya Duty-Free City, and plans to expand their footprint in Hainan’s island departure duty-free market, said a representative of the company.