HAIKOU /China/, January 27. /TASS/. South China's Hainan province plans to vigorously attract professionals from around the world to implement high-tech projects. The Hainan Daily newspaper reported that by 2025 the gross product of the corresponding sector in the region will exceed 800 billion yuan ($126 billion).

According to the newspaper, the number of advanced knowledge-intensive enterprises registered on the island has increased fivefold since 2016, to more than 1,000 companies. One of the commercial organizations actively promoting employment in high-tech industries has been new materials manufacturer Huasheng.

To meet the ever-increasing demand for skilled workers, this company has formed a comprehensive cooperation mechanism with Chinese and foreign research centers as well as universities. The local government has supported these efforts and, in order to attract more high-quality professionals, introduced a series of incentives for the in-demand workforce last year, including housing subsidies and tuition assistance for children.

Huasheng has set up a think tank to investigate issues related to the production of polycarbonate, a polymer used to make transparent and flexible building materials. The investment in this 3,500-square-meter facility amounted to 130 million yuan ($20.5 million).

Hainan is expected to soon become one of China's leading regions in the development of highly durable products that are made using advanced low-carbon technology.

On April 13, 2018, Chinese President Xi Jinping announced the creation of a pilot zone and free trade port on the island. The goal of the program is to bring Hainan into the process of globalization and international labor distribution, and to lay a solid foundation for innovation. The provincial government is creating an attractive climate for investors and creating a well-developed research infrastructure. According to the government's plan, by 2050 the region will become a unique cluster with an advanced economy, with campuses of leading universities, advanced laboratories and headquarters of leading multinational corporations.