HAIKOU /China/, March 11. /TASS/. Hainan authorities plan to achieve an 8% gross regional product growth rate in 2024 and ensure an 8 - 8.5% increase in personal income, according to a report of the provincial government distributed during the 2nd session of the 14th National People's Congress (NPC, Parliament) held in Beijing.
The document stated that Hainan's 12-month budget revenue is expected to increase about 7% and fixed asset investment of provincial companies to go up 10%. Retail sales are expected to grow about 8%, and unemployment is expected to be contained at around 5.5%.
The Hainan administration plans to keep inflation at a 3% rate. The province also intends to successfully meet all the goals set for PRC regions by the central government regarding environmental protection and energy conservation, the report said.
In 2024, Hainan's government agencies are going to focus on solving problems in seven key areas, according to the document. These include preparing for the province's transition to a new offshore customs control system, expanding investment opportunities, boosting international consumer tourism, strengthening value chains, improving the business environment, maintaining financial stability and increasing foreign trade.
The report shows that the Hainan Free Trade Port will step up efforts to comprehensively revitalize and improve the economy. The authorities plan to actively promote reforms, strengthen openness, ensure the mutual development of education, science and technology, strengthen modern industries, promote coordinated regional development, comprehensively strengthen the agricultural sector, improve people's welfare, promote ecological civilization, and take active measures to maintain a balance between growth and security.
The 2nd Session of the 14th National People's Congress takes place on March 5-11, and is annually held in Beijing in conjunction with a series of events held by the National Committee of the Chinese People's Political Consultative Conference, the country's top advisory body. It is one of the PRC's most important political events. During the week, authorities agree on key issues related to domestic and foreign national strategy. This ensures that the state course is adjusted to the existing realities.