HAIKOU /China/, June 21. /TASS/. Germany's Hanover city has set up a center to stimulate investment cooperation between Sanya city of South China's Hainan province and European countries. That's according to Hainan Daily newspaper.
As the newspaper reports, these are joint projects with the Yazhouwan Innovation Development Zone. The center's opening ceremony took place during the visit of a delegation from Sanya to Switzerland, Germany and the Netherlands. Presentations on the potential of the Hainan Free Trade Port were made in each of these countries.
The new structure in Hanover is expected to have a stimulating effect on Chinese-German trade and economic cooperation in general, and provide for even more intensive development of Hainan. During the trip, the Sanya Department of Commerce, together with the city's Department of Agricultural Development, held meetings with a number of European companies and organizations.
The newspaper wrote the Sanya delegation's trip has been very fruitful. The parties plan to promote cooperation in the implementation of agricultural and environmental projects, as well as in the field of digitalization. The Hanover authorities are going to create a platform for strengthening German-Chinese cooperation in the field of medical equipment production on the territory of Yazhouwan.
The center is expected not only to strengthen bilateral contacts, but also to form new and effective channels to distribute international resources. One of its objectives is to facilitate the production of promising scientific inventions.
Sanya is one of the key centers of Hainan's economic development, with services and modern agriculture providing a large part of its income. The island's administration plans to turn the city into a leading financial and economic center with advanced infrastructure, housing the headquarters of leading Chinese and foreign companies. This large city, also internationally known as a first-class resort, is transforming with every passing year, attracting more and more investors.