Great Stride in Hainan's Economic Transformation and Development

HAIKOU, China, Jan. 21, 2020 /PRNewswire/ -- On January 17, the representative of People's Government of Hainan Province revealed at the second press conference held at the Third Session of the Sixth National People's Congress of Hainan Province that the People's Government of Hainan Province had been actively promoting the construction of the free trade zone and free trade port in 2019. The province's economic society showed steady progress, better structure, stronger momentum, improved benefits and more sustainable high-quality development.

The Hainan Provincial Development and Reform Commission introduced that Hainan's main indicators in 2019 saw steady growth. In 2019, Hainan's export-oriented economic development and transformation achieved positive results, bringing a lot of highlights and vitality to the development of foreign investment, foreign trade and other fields. In addition to Hong Kong, Singapore and the United States, foreign direct investment in Hainan Province from Germany, Canada and other developed regions in Europe and the United States also achieved breakthroughs. At the same time, Hainan further strengthened its trade with the countries along the Belt and Road, promoted the "Windows to Global Trade" project, and optimized its trade structure around the purpose of building an international tourism consumption center, making the import of duty-free products a new highlight in the development of foreign trade.

In 2019, Hainan achieved fruitful results in its structural adjustment and transformation of growth engines.

In terms of tropical agricultural development, Hainan actively facilitated the integration of primary, secondary and tertiary industries and put its emphasis on the three pillar industries of rubber, coconut and betel nut, and the research, development and production of winter fruits and vegetables.

New space was explored for modern service industry. Hainan's Internet industry was developing rapidly, and its support for key industries and major projects was strengthened in terms of the financial industry. Hainan also launched Sanya Yazhou Bay Science and Technology City, Lingshui Li'an International Education Innovation Pilot Zone and other projects.

The development of high-tech industries was accelerated. Hainan was actively developing emerging land, sea and air industries, extending the oil and gas industry chain and expanding the development space of the pharmaceutical industry. "Against the background of increased economic downward pressure, the number of high-tech enterprises in Hainan has reached new highs to 566," said Xie Jing, Director-General of Hainan Provincial Department of Science and Technology, noting that scientific and technological innovation is effectively boosting Hainan's economic transformation and development.

In terms of tourism, Hainan received 83.112 million domestic and foreign tourists in 2019, bringing the total tourism revenue to RMB 10.578 million. Among them, 1.4359 million inbound tourists were received, up 13.6% year on year. "Hainan took the construction of an international tourism consumption center as its key task in 2019 to promote the transformation and upgrading of the tourism industry in the overall deepening of reform and opening up," said Sun Ying, Director-General of the Department of Tourism, Culture, Radio, Television and Sports of Hainan Province. 

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