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Haikou Internet innovation park's revenue in January-May 2020 up by 1.5 times

In 2018, three large companies signed documents on cooperation with the Hainan government: Tencent, Alibaba and the search engine Baidu

HAIKOU, June 30. /TASS/. The revenues of the resident companies of the Fullsing Town Internet Innovation Park in Haikou (the administrative center of Hainan Province) in the first five months of 2020 increased by 147.7%, to 9.56 billion yuan (about $ 1.35 billion), reported the Hainan Daily.

According to the news outlet, tax revenue also increased by 95.6% to 567 million yuan (about $ 79.98 million).

Since the middle of last year, the number of resident companies of the industrial park has increased by more than a quarter and exceeded 1,000. Among them are the world's largest e-commerce platform Alibaba and its financial division Ant Financial, the audit company PricewaterhouseCoopers (PwC), Chinese video hosting iQiyi (an analogue of YouTube), the telecommunications giant Tencent, as well as one of the most popular information platforms in China Toutiao.

The technopark was opened in 2015. Currently, a total of about 4,000 people work there.

The provincial authorities are taking active measures to develop the high-tech sector in the region. In 2018, three large companies signed documents on cooperation with the Hainan government: Tencent, Alibaba and the search engine Baidu.

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