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Total operating income of Hainan's industrial parks up 10.4% in six months

The establishment of industrial parks, where authorities attract various enterprises and high-tech companies, is an important part of Hainan's free trade port project

HAIKOU /China/, August 5. /TASS/. The economic indicators of 13 key industrial parks in China's southern province of Hainan for January-June this year not only remain stable, but also show signs of improvement. The parks' total operating income grew by 10.4% year-on-year and amounted to about $167 billion in the mentioned period, the Hainan International Communication Network (HICN) reported with reference to official data.

The growth of operating income was primarily due to the strong performance of Jiangdong New Area in Haikou and Yangpu Economic Development Zone. Regarding fixed asset investment, the Island's 13 free trade port industrial parks attracted about US$9 billion investment in the first half. The annual growth rate of this indicator was 5%.

Tax revenues from Hainan's industrial parks has also become an important contributor. They reached nearly $5.2 billion January-June, an increase of 1.7%. The 13 industrial parks accounted for nearly 49% of the province's total tax revenue. Jiangdong Pork and Yangpu Zone received a total of $3.4 billion in tax revenue.

The establishment of such industrial parks, where authorities are attracting various enterprises and high-tech companies, is an important part of the Hainan Free Trade Port project, whose development program was released on June 1. The country's government expects the free port to be completed by 2025, by which time the island should have a system in place to ensure free trade and investment.

By 2035, the free port will have developed into a mature system. By then, Hainan is expected to ensure the freedom of trade and investment, cross-border capital movement, travel and cargo transportation.

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