HAIKOU /China/, June 28. /TASS/. Fixed capital investment in Hainan province in January - May this year grew by 7.4% year on year. This was reported by the Provincial Statistics Office.

According to the document, in the first five months of this year, fixed asset investment in Hainan showed a steady recovery, the structure of capital investment has been gradually improving, the overall indicator has maintained a steady growth. It is noted that the volume of completed fixed capital investments rose 7.4% year-on-year. At the same time, capital investments not including the real estate sector grew by 13.3%.

Infrastructure investment is also reported to have grown by 8.9% year on year. There were no absolute values given for the figures.

June 1, 2020, the Central Committee of the Communist Party of China and the State Council of China published a program for ta free trade port in Hainan. The document provides for the establishment of a special customs zone on this tropical island. The PRC authorities plan to complete the construction of the free port on the territory of the province in 2025, having developed a system of free trade and investment on the island. By 2035, Hainan is expected to have free trade and investment, cross-border capital flows, travel, and freight transportation.