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Tuesday, December 5, 2023

Hainan’s Focus on Talent: Attracting Businesses and Individuals to Transform the Island

ChinaHainan's Focus on Talent: Attracting Businesses and Individuals to Transform the Island

Fu is a man with a mission. At 58 years old, he is the chairman of the Hainan Furuicom Biotechnology, a company dedicated to realizing his dreams. And he is not alone. The island of Hainan has introduced a series of policies aimed at attracting talent like Fu, to accelerate the construction of its fledgling free trade port.

Fu’s story is one of many in Hainan. After living in Japan for 32 years, he returned to his homeland in 2014 and started his own business, serving as the chief executive officer of Hainan Hai Rui Educational Investment Co. He has since turned his attention to biotechnology and is making strides in his field.

The island’s efforts to attract talent have been successful. According to official figures, more than 500,000 people have been drawn to Hainan since April 13, 2018. And the province has even bigger plans for the future, with a goal of recruiting 800,000 more people over the next five years. This year alone, the target is to attract 150,000 new residents.

Hainan’s efforts to attract talent are not just limited to individuals like Fu. The province has also launched initiatives to lure businesses, with a focus on high-tech and emerging industries. In addition, it has implemented policies to encourage innovation and entrepreneurship, such as tax incentives, funding support, and streamlined administrative procedures.

Hainan’s focus on talent is part of a broader push to transform the island into an international tourism destination and a hub for free trade. The goal is to make Hainan a showcase for China’s reform and opening-up policy and a model for future development.

Despite its relative remoteness, Hainan’s location offers strategic advantages. The island is situated near Southeast Asia, the Middle East, and Africa, making it an ideal location for trade and investment. And with the government’s support, Hainan has the potential to become a major player in global trade and finance.

With its ambitious plans, Hainan is poised to attract even more talent and businesses in the coming years. The province’s focus on innovation, entrepreneurship, and sustainability, combined with its strategic location and supportive policies, make it an attractive destination for those seeking new opportunities and a better quality of life.

Fu, a native of Haikou, the capital of Hainan province, was one of the Chinese students chosen to study overseas during the implementation of China’s reform and opening-up policies in the 1980s. His excellent academic performance in school earned him the opportunity to study in Japan in 1983 with government funding. He majored in fishery and marine science at Nagasaki University.

According to Fu, he chose these majors because they were closely related to the main industries in Hainan, as both places have abundant ocean resources. After graduation, Fu worked for Nagasaki University and the National Research Institute of Aquaculture in Japan for three years. Later, he worked for Fuyo Ocean Development and Engineering and Japan Biogenic.

In 2009, Biogenic appointed Fu to run its subsidiary in Kunming, the capital of Southwest China’s Yunnan province. Despite being in Japan, Fu constantly kept tabs on the development of his home. When he was offered the chance to work in Kunming, he believed it was the right time to return.

Upon returning to Hainan in 2014 after 32 years in Japan, Fu became the CEO of Hainan Hai Rui Educational Investment Co. Afterward, he founded Hainan Furuicom Biotechnology, of which he is the chairman. Fu is committed to pursuing his dream, and Hainan has introduced several preferential policies to attract talent like him to expedite the construction of the island’s fledgling free trade port.

Official data reveals that Hainan has attracted over 500,000 people since April 13, 2018. The province aims to recruit 800,000 more in the next five years, including a target of 150,000 this year. This initiative intends to promote the economic and social development of the province by attracting top talent from around the world.

As a successful entrepreneur and devoted citizen, Fu’s story represents the many talented individuals who return to their homeland to contribute to the country’s development. Hainan’s preferential policies to attract such talent are sure to help in its growth and success.

Looking towards the future, Fu is keen to expand his company’s technical exchanges with other countries and introduce overseas funds, cutting-edge technologies and products to Hainan. He believes that the Hainan Free Trade Port (FTP) has a promising future and that his company can supply quality products to his customers.

The Hainan FTP has been a focus of the Chinese government’s attention since 2020 when they released a master plan to build the whole of Hainan Island into a globally influential and high-level FTP by the middle of the century. Since then, a series of favorable policies have been issued to support the development of the Hainan FTP.

Fu sees these policies as a reason for optimism and a motivation for setting up his company in Hainan in 2020. He is committed to supplying quality products to his customers and contributing to the growth of the Hainan FTP.

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