HAIKOU /China/, March 15. /TASS/. The Hainan administration plans to proactively develop inter-cluster cooperation projects to ensure more intensive economic growth of the southernmost Chinese province, the Hainan Daily reported.
According to the newspaper, the Hainan Administration in conjunction with the Regional Development and Reform Commission announced the decision via a circular issued a few days ago. Such a format of cooperation between the island's industrial sites and innovation zones with similar economic entities in other regions of China is expected to allow for a more efficient distribution of resources and make up for the shortage of resources. Combined efforts in this area are expected to help successfully implement a long-term program to modernize agriculture, develop the industrial sector, form a modern service sector, as well as promote priority cultural and humanitarian projects.
The document states that the authorities intend to increase inter-cluster cooperation primarily in three strategically important cities of Hainan - Haikou (the administrative center), Sanya (south of the island) and Danzhou (northwest), as well as in the adjacent territorial units. At the same time, the government plans to attract other participants, such as the Hainan Boao Lecheng International Medical Tourism Pilot Zone (east of the province).
According to the newspaper, inter-cluster cooperation programs involving Hainan will be carried out according to several models. Each project envisages a minimum investment of $10-50 million; one partner is to provide a land plot of over 13 hectares, the other - complete or partial financing. Other options involve a more detailed division of responsibilities and authorities in the process of allocation of funds, as well as the redistribution of the tax burden.
Local authorities noted that the most effective cooperative projects will benefit from increased government support.
The Chinese government established 11 key priority development zones in Hainan, the main task of which is to ensure intensive growth of the province. According to official statistics, their combined revenue exceeded 1.35 trillion yuan (about $213 billion) in 2021, increasing by 134%. Inter-cluster cooperation will involve Hainan Free Trade Port's strategic innovation sites, as well as other provincial, city and county-level projects.