Haikou introduces preferential policies to boost headquarters economy

Haikou, capital city of China's southernmost Hainan province, has introduced a set of preferential policies to attract global conglomerates and boost the development of its headquarters economy, it was announced at a news conference on Wednesday.

The move, targeting Fortune Global 500 companies, leading industrial conglomerates and internationally well-known enterprises and organizations, is an initial step to encourage growth of a headquarters economy in Haikou.

Under the preferential policies, a transnational corporation will get 3 million yuan ($470,000) as a reward for establishing its headquarters or regional headquarters in Haikou, and for an international organization, the reward is 2 million yuan.