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Investment in Hainan's industrial parks exceeds $17 billion in 2022

Hainan's key industrial parks will work to attract investment in areas such as tourism, modern services, high-tech industries and tropical agriculture, according to the Provincial Reform and Development Commission

HAIKOU /China/, February 1. /TASS/. Total investment in key industrial parks in the southern Chinese province of Hainan in 2022 exceeded 120 billion yuan (about $17.7 billion), up 6.6% from 2021. the Hainan International Communication Network (HICN) reported this with reference to the provincial Committee for Reform and Development.

Capital investment in industrial parks last year accounted for more than 30% of total investment in the province. They promoted industrial development within the parks and the formation of key industrial clusters. Most notably, one of the largest industrial parks, the Yangpu Economic Development Zone in Hainan's Free Trade Port, saw the output of petrochemicals and new materials surpass 70 billion yuan (10.4 billion yuan).

Last year, according to HICN, the Haikou Jiangdong New Area attracted about 22 companies engaged in services and trade, whose operating activities reached 160 billion yuan ($23.8 billion). At the same time, the revenue of the Haikou high-tech industrial zone in such areas as bioengineering and pharmaceuticals reached a record 25 billion yuan ($3.7 billion). In addition, the trade volume of consumer goods and processing products in the Haikou Integrated Free Trade Zone last year should reach about 70 billion yuan ($10.4 billion).

As pointed out by the Provincial Reform and Development Commission, Hainan's key industrial parks will work to attract investment in areas such as tourism, modern services, high-tech industries and tropical agriculture. There are also plans to develop seed farming, deep-sea research and aerospace technology.

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