Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) and Mizuho Bank (China), Ltd. today concluded a memorandum of understanding (MOU) for business cooperation with the Hainan Provincial Department of Commerce of the People's Republic of China. We are the first Japanese bank to sign an MOU for business cooperation with said department.
The Hainan Provincial Department of Commerce was established as an investment gateway. Its activities include providing incentive packages and entry support to multinational companies investing in the province. The latest MOU will see Mizuho provide advisory services to the department, organize investment seminars, and otherwise support market entry by Japanese companies. We will work with the Department of Commerce in these efforts to boost the regional economy.
Hainan Province is the southernmost province of China. The entire province was designated a free trade zone by the Chinese government in October 2018. As a key gateway to the Pacific and the Indian Ocean, the province is expected to attract more investment going forward.
Through this MOU, we will leverage our networks in China and Japan to provide enhanced advisory and solutions to our clients entering and expanding in the region. We will also provide business matching services and share our insights on industrial development to support the province's efforts to achieve economic and industrial transformation.
| Overview | China's southernmost province, consisting of Hainan Island and nearby islets. It is the smallest province in China in terms of land area and largest in terms of sea area. (Land area: 354,000 km2; Population: 9,258,000) |
|---|---|
| Main industries | Tourism, marine transport, agriculture, etc. |
| GDP | 446.3 billion RMB |
| Total combined export and import | 7.0 billion USD |