HAIKOU /China/, June 1. /TASS/. National Hi-Tech Industrial Development Zone in Haikou City on Hainan Island launched new projects with investments of 33.23 billion yuan (about $5 billion at the current exchange rate) over the last two years. This was reported by the Hainan Daily newspaper.

According to the newspaper, since the publication of the general development program of the free trade port on June 1, 2020, the management structure of this innovative site has signed a number of agreements on the implementation of 85 new projects on its territory. In addition, the companies registered there have launched another 111 recently formalized high-tech programs during this period. The authorities have given them land plots with a total area of about 133 hectares for this purpose.

The enterprises registered in the Haikou Advanced Technology Zone include mobile operator China Telecom, China Datang Corporation and Bloomage Biotech. This science-intensive cluster is expected to play an increasingly important role in the economic development of China's southernmost province in the coming years.

Haikou's science city was established in 1991 by the decision of the State Council of the People's Republic of China. It is Hainan's first innovation zone, with 11 clusters of advanced economic, scientific and technological development appearing on the island over the past 30 years.

Fixed capital investment (investment in real estate and production equipment, securities, patents and licenses) in this high-tech zone in 2021 amounted to 7.39 billion yuan (over $1.1 billion), an increase of 36.3%. Tax revenues from activities of market entities registered on its territory for 12 months increased by 31% to 6.23 billion yuan (about $ 935 million).