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Media: Hainan's fishing exhibition participants sign contracts worth $ 275 million

The event hosted a presentation of the first Hainan LNG-powered fishing vessel

HAIKOU, December 9. /TASS/. Participants of a recreational fishing exhibition held in Hainan's Haikou concluded deals worth 1.8 billion yuan (about $ 275 million). According to the Haikou Daily, the contracts are expected to produce goods and services worth 10 billion yuan ($ 1.5 billion).

In accordance with the contracts, 500 new fishing vessels will be floated in the Hainan Province in the near future, some of them will run on eco-friendly energy sources (lithium batteries, hydrogen or LNG). About 3,000 people will be trained and will be employed in the fishing industry. Contracts were also signed for the construction of fishing villages, as well as bases for amateur and sport fishing at the exhibition.

In addition, the event hosted a presentation of the first Hainan LNG-powered fishing vessel. The experts evaluated it and concluded that it fully complies with the standards of the respective vehicles running on alternative energy sources.

According to the provincial agriculture department's plans, Hainan will reach its planned target of 5,000 recreational fishing vessels by 2025.

According to official statistics, Hainan companies supplied about 1.72 million tonnes of fish to the market in 2019, 1.9% less than in the previous 12 months. However, this has so far insignificantly affected the growth of the agrarian sector, which includes forestry and fisheries. Its added value increased by 2.7% over the corresponding period, amounting to 111.9 billion yuan (about $ 15.9 billion).

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