HAIKOU, July 12. /TASS/. The Sanya authorities allocated 15.5 million yuan (about $ 2.21 million) to 31 high-tech industry enterprises to boost innovation, reported the Hainan Daily.

When choosing companies, the authorities took into account enterprises which contribute to the promotion of innovation and the development of high-tech, the newspaper writes. The award will be a one-time payment in the amount of 100,000-500,000 yuan ($14,280-71,400). Among the 31 enterprises that got support are companies iengaged in medicine, pharmacology and IT.

According to the news outlet, the encouragement is part of the implementation of the Regulation adopted in January to support Sanya's high-tech industry. 

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.