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Haikou signs 35 investment agreements worth more than $900 mln

Earlier, the Central Committee of the Communist Party of China and the Сhinese State Council published the “General Program for the Establishment of a Free Port on Hainan”

HAIKOU, Jine 15. /TASS/. Investment agreements worth 6.4 billion yuan (about $ 903 million) on various projects related to Hainan's free trade port construction were signed last Saturday in Haikou, the China Daily reported.

Thirty-five projects (eight with the participation of foreign capital) relate to the construction of Hainan's free trade port, industrial development and public services. Among those who signed the documents were, in particular, the French energy giant EDF, the Shenzhen Stock Exchange and China Eastern Airlines.

Earlier, the Central Committee of the Communist Party of China and the Сhinese State Council published the “General Program for the Establishment of a Free Port on Hainan,” according to which the island’s administration intends to create an effective system to fulfill a number of important social and economic goals by 2025, and within 10 years to decisively enhance the innovative mechanisms for the region's development.

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.

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