HAIKOU /China/, January 28. /TASS/. Hainan province's foreign direct investment reached $2.79 billion in 2021, up 7.7-fold, even despite the extremely negative impact of the pandemic on the global economy. This was reported by the local Development and Reform Committee.
According to the agency, 135 new investment projects involving Hainan's funding appeared in other countries and regions during that period. This is about 3.8 times more than in 2020.
The committee noted, as Hainan's foreign investment flow increases, so does the diversification of capital allocation by industries. The province's companies are most actively investing in manufacturing, wholesale and retail trade, transportation and logistics, postal services, restaurant and hotel business, and telecommunications technology.
According to the published statistics, Hainan's investment in foreign industrial and trade projects in 2021 increased 60% and 20%, respectively. Investments in the development of the consumer sector - duty-free stores and e-commerce sites - grew 1,253%, amounting to $582 million. The number of registered cooperation programs in the relevant area reached 43, which is 8.6 times higher than the previous year.
In 2021, Hainan invested in more than 30 countries and regions, with Hong Kong, Singapore, Cayman Islands, Indonesia and Vietnam being major destinations. Capital investment in the southernmost province of China in the projects of the "One Belt, One Road" in the same period exceeded $ 1.28 billion. This is more than 45% of the total foreign financing for 12 months.
As the Comprehensive Regional Comprehensive Economic Partnership comes into force, Hainan's investment in other countries is expected to continue to grow dynamically.