HAIKOU, January 22. /TASS/. The volume of foreign investment in Hainan's economy in 2020 increased by 100% reaching $ 3 billion, the local statistical office reported.
According to the authorities, over the past 12 months there has been a noticeable inflow of funds into fixed assets (expenses for equipment and expansion of production, leading to an increase in the price of the object and, as a rule, in the added value of the product). This indicator grew by 8%, demonstrating positive dynamics for the first time since 2018.
According to the report, national investment in the island's agriculture over the past year increased by 115.5%, in the industrial sector — by 23.1%, in the service sector — by 4.9%.
In the sectoral structure, the largest growth was seen in manufacturing enterprises — financing increased by 49.7%. A noticeable inflow of investments (27.3%) was observed from telecommunications companies and software manufacturers, as well as from firms specializing in commercial services (17.1%).
Against the backdrop of such encouraging dynamics, Hainan's imports also increased: in 2020, they grew by 16.8%, to 65.6 billion yuan ($ 10.1 billion at the current exchange rate). The province's external trade increased by 3% to 93.3 billion yuan ($ 14.4 billion).