HAIKOU /China/, August 16. /TASS/. China's financial institutions increased the volume of fixed capital investment in the city of Sanya, located on the southern coast of Hainan Island, by 29% in July year-on-year. According to the local development and reform commission, the volume of attracted investments amounted to about 6.1 billion yuan (about $ 900 million) for the given month.
Fixed capital includes real estate and production equipment, investments in securities, patents and licenses.
"We monitor key provincial-level projects on a daily basis, taking into account the needs that arise during the construction of facilities," the city's development commission stated. "Sanya aims to minimize the negative effects from the August pandemic outbreak [in Hainan]."
Local authorities have pointed out the importance of the PRC's strategic financial funds, which make it possible to quickly raise the capital needed to put the facilities built in Hainan into operation. The infrastructure facilities under construction in Sanya include bridge and power projects, the construction of drinking water reservoirs, and channel enlargement (widening and deepening rivers flowing through the city).
To ensure smooth execution of its tasks and to prevent coronavirus infection among workers, the Sanya city government has set up strict controls on construction sites, which are actually isolated from potential external sources of infection. To eliminate the risk of a COVID-19 outbreak, the management of these construction sites regularly conducts coronavirus tests for everyone on their premises.
Sanya is China's leading resort, home to more than 1 million people. In 2021, its gross product grew by 12.1% to 83.5 billion yuan (approximately $13.2 billion). An important role in the development of the city plays a new central business district, where dozens of companies with a capital of 15 billion yuan (about $ 2.2 billion) have already been registered. The market value of their goods and services in 2021 was about $3.5 billion.