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Revenue of Hainan's key development zones reached $259 bln in 9M

Manufacturing revenue of Hainan's key zones up 19.8% in nine months

HAIKOU /China/, 9 November. /TASS/. The revenue of key advanced development zones in China's Hainan Province in January-September reached 1.85 trillion yuan (about $259 billion), up 8.9 % year-on-year, Hainan Daily reported with reference to the regional statistics bureau.

According to the newspaper, the dynamics of Hainan's seven innovation clusters reached double digits. The Jiangdong New Area, the Fullsing Technopark and the Haikou Integrated Free Trade Zone (in the province's administrative centre) and the Yangpu Economic Development Zone (on the island's west coast) were particularly important growth drivers. The most intensive investment inflows were recorded in the emerging growth areas - the Wenchang International Aerospace City (north-east of the province) and the Innovation Zone in Lingao (north-west).

The turnover of the manufacturing sector in Hainan's key zones increased by 19.8 % in the first nine months compared to the same period in 2023, the report stated. As for transport, storage and postal services, the figure for this segment increased by 18.3 %.

Fixed asset investment in these priority strategic zones increased by 4.1 % in the first three quarters, to more than 95 billion yuan (more than $13 billion). The Wenchang and Lingao zones recorded increases of 50.1 % and 46.9 % respectively.

Tax revenue from Hainan's innovation parks rose 6.7% to 51.77 billion yuan ($7.24 billion) in the first nine months. Yangpu, Jiangdong and the Comprehensive Free Trade Zone recorded growth of 20.7%, 18% and 34.6% respectively.

Hainan Free Trade Port has 13 key development zones. The main objective of these innovation zones is to support the long-term sustainable growth of the regional economy and lay a solid foundation for a cluster of strategic industries focusing on advanced knowledge-intensive products and modern high value-added services.

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