Tropical Hainan flexes economic muscles at investment fair

The 2017 Hainan Comprehensive Investment Fair will commence in Haikou, capital of Hainan province, on Tuesday. The three-day event will introduce 374 projects to attract quality investors from home and abroad to further enhance Hainan’s healthy and sustainable economic and social development.

A total investment of 978 billion yuan ($143.3 billion) is expected for the projects, according to Lyu Yong, head of Hainan Provincial Department of Commerce.

Lyu said the provincial government has planned 41 sub-events for the comprehensive investment fair. “The island province welcomes investments in sectors such as tourism, tropical high-efficiency agriculture, internet-based industries, finance, insurance and the modern logistics industry,” he said.

Two more large-scale events are taking place alongside the fair. The first World Hainan Merchants' Products Expo and the first Hainan High-tech Industry and Business Innovation and Pioneering Expo will be open simultaneously to give investors a better understanding of the quickly changing tropical island, which stands at a pivotal location on the 21st Century Maritime Silk Road.

Hainan is establishing itself as a hotbed for outside investors thanks to the region’s preferential investment policies, and types of industries such as tourism, trade in services, medical care, finance and transportation.

Liu Cigui, Party chief of Hainan province, said: “The best resources should find the best investments." He has called for strict quality control for related projects to ensure a superior fair with the best investors, outstanding talent and significant amounts of quality funding and technologies.

Liu said safeguarding Hainan's environment is a top priority when planning and designing development projects. He added the province will conduct in-depth exchanges and cooperate with the outside world and make breakthroughs in building an open economy under the Belt and Road Initiative.

He Dongni, deputy director of the Haikou-based China Institute for Reform and Development, said she is optimistic about growth prospects for investors in Hainan.

“It boasts many unique advantages and enjoys plenty of preferential policies that are helping to build an attractive environment for investors. In the meantime, the pilot reform in drafting development plans is making the business environment more transparent, reducing costs and providing greater conveniences.”

With sunshine, fresh air, clean water and 62 percent forest coverage, Hainan, at the southernmost part of China, is often crowned with such titles as a “natural oxygen bar”, “ecological garden” and “l(fā)ongevity island”.