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Hainan companies invest $2,39 bln in Belt and Road countries in 2019


Business & EconomyApril 03, 19:14

These figures increased by 69 times compared to the 2018 statistics

HAIKOU, April 3. /TASS/. The Hainan enterprises invested $2,39 bln in the Belt and Road member-states in 2019, according to www.hinews.cn. These figures increase the previous year ones' by 69 times. 

At least 33 companies from 17 countries and regions from the Belt and Road Initiative received investments from Hainan enterprises. According to this indicator, Hainan Province ranked eighth in China. Capital investments in the Asian region amounted to $1.73 billion which makes 72.28% of the total volume of relevant investments directed mainly to the service sector, transport, logistics and in a number of other areas.

In 2019, according to the local authorities, the total amount of foreign investment in the Hainan Province reached up to $1.5 billion (having increased by 107.8%). In the near future, the province plans to actively draw investments in such areas as financial services, the production and rental of eco-friendly vehicles, the production of drugs and medical equipment. All the projects are aimed at turning the Island of Hainan into a zone of advanced development in East and Southeast Asia.

Hainan's free trade zone 

In April 2018, President Xi Jinping said that the Chinese authorities intend to actively involve Hainan in globalization and to draw foreign investors to the island province. By 2050, according to the authorities, the island should become a unique international cluster with an advanced economy, developed tourism, top-notch scientific, technical and financial potential, and modern medicine. The branches of the best universities and offices of the most powerful corporations in the world will be located on the Island of Hainan. 

By 2025, the Chinese government intends to create an "international center for tourism and consumption" on Hainan. In order to do so, the "Eastern Hawaii" with their unique natural landscapes, thick rainforests and great climate will establish a developed network of hotels, which blend perfectly with white sandy beaches stretching along the coastline. The combination of an exotic subtropical nature and a modern eco-friendly infrastructure will boost tourist inflow to the island from the most distant parts of the world

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