South China’s Hainan province was in the spotlight yesterday, the first day of this year’s China International Fair for Investment and Trade after investment agreements worth 134.5 billion yuan ($20.2 billion) were signed. The fair will run until Sept 11.
A total of 119 investment contracts were signed, the funds from which will support projects in 18 cities and counties throughout the province, as well as its Yangpu economic development zone.
Li Guoliang, vice-governor of Hainan, said economic growth in the province is strong and it has significant investment potential.
He noted that nationwide policies introduced in the last two years have significantly benefited investment opportunities in Hainan, especially in the tourism sector and the reform of the service sector.
During the first half of this year, the province saw its fixed-asset investment from private capital hit 99 billion yuan, up 20.9 percent year-on-year.
Lyu Yong, head of the commerce bureau of Hainan, said the province is optimizing its infrastructure.
During the next five years, the island province is expected to add 120 new mooring berths for cargo vessels. Fifty of these berths will have a throughput capacity of more than 10,000 tons each.
The agreed investments will also boost the synergic development of Hainan’s different economic regions.
Haichengwen, which refers to the integration of Haikou, Chengmai and Wenchang to form an economic belt, welcomed 53 contracts with a total investment value of 31.05 billion yuan.
The Big Sanya Tourism Circle, which covers Sanya and its nearby counties of Ledong, Baoting and Lingshui, drew 31 contracts with a total investment value of 53.52 billion yuan.
A special display area highlighting Hainan’s recent successes and achievements is also open to the fair’s attendees.
Local companies from the manufacturing, agriculture, high-tech and tourism sectors participated in the display with the aim of attracting more investment.
Li You contributed to the story.
