HAIKOU /China/, January 6. /TASS/. The high-tech sector in South China's Hainan province has almost tripled in the past six years, to more than 1,500 companies. This was reported by the Hainan Daily newspaper, citing data from China's Ministry of Science and Technology.
In 2017, only 269 enterprises with advanced high-tech technologies were registered on the island, the newspaper said. In 2022, this figure, according to preliminary estimates, rose to 1,550 companies. According to the newspaper's observers, the high-tech sector has covered almost all territorial units of Hainan in that period of time. The largest number of high-tech enterprises, as noted, is registered in the province's administrative center, Haikou City.
According to statistics, firms belonging to the advanced innovative industries of the province are active in foreign trade activities. Thus, in January-September 2022 trade turnover with their participation amounted to 9.12 billion yuan ($1.32 billion), having increased in annual terms by 38.3%. Exports during this period grew even more significantly, by 78.3%. "High-tech companies are growing dynamically and have become a 'fresh force' for the formation of Hainan's free trade port," commented the provincial science and technology department.
Due to the important role these enterprises play in economic modernization, Hainan authorities are constantly working on new incentive measures. In particular, the local government gives subsidies of up to 10 million yuan ($1.45 million) to the most promising innovative companies.