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24 Oct 2019, 14:55

Hainan to launch about 40 projects to boost consumption by the end of 2020

The majority of those projects will be launched by the end of December 2019

HAIKOU, October 24. /TASS/. China's Hainan by the end of 2020 will launch at least 39 initiatives aimed at boosting consumption. According to Hainan Daily newspaper, 20 of those projects will be launched by the end of December, and 19 more are planned for the year 2020. 

The tax-free carnival, organized by China Duty Free Products (Group) Co и Ltd, will become of one of the main events, as well as the Hainan cuisine festival where more than 120 local dishes will be presented. Moreover, the Hainan authorities intend to hold a demonstration of the island's tropical agriculture achievements and open a chain of 24/7 stores. The authorities also intend to establish a new channel for trading agricultural products online, to open a big new wholesale market and modernize the operating retail markets on the island. 

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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