HAIKOU /China/, January 24. /TASS/. The gross regional product (GRP) of South China's Hainan province should increase about 9% in 2022 according to a government plan. This was announced by the Governor of the region Feng Fei.

"The main goal of Hainan's socio-economic development for this year is to ensure a GRP growth of 9%. Local budget revenues should increase by 10%," he said, speaking at the fifth session of the sixth provincial People's Congress.

The official noted that in 2022 the authorities will continue to stimulate consumption, thanks to which retail sales on the island will be able to grow by 11% and the income of residents will increase by 9-9.5%. According to the Hainan administration's plan, inflation over this period will not exceed 3% and the unemployment rate will be about 5.5%.

"It is important to be proactive in our support of state power, which adheres to the principal of the rule of law, improving the quality of the state management system and promoting the modernization of its governing functions," Feng Fei stressed.

Hainan's GRP in 2021 rose 11.2 percent to 647.52 billion yuan ($101.77 billion), according to an earlier report by the Hainan Statistics Office. Economic exceeds in China’s southernmost province beat the country average (8.1%) for the period. The report noted that the province's agriculture reached 3.9% and industry - exactly 6%. Significant progress (15.3%) was shown by the service sector, which accounted for about 61% of the island's gross product.