CHINA. Hainan Province last week witnessed the inking of 104 key projects to inject new impetus into the construction of its Free Trade Port, according to state media China.Org and the Hainan Provincial Bureau of International Economic Development (Hainan IEDB).
The projects, of which 22 are foreign-funded, involve some US$10 billion worth of investment across tourism, modern services and hi-tech sectors, the report said.
The deals, signed in Haikou, the provincial capital, reflect the increasing appeal of the island province at the forefront of China’s opening up to investors, China Org said.
Previously, the Free Trade Port had witnessed the signing of 741 projects with an investment of RMB519.6 billion (US$80 billion) in multiple areas including intelligent manufacturing, international shipping, education, medical care and aerospace.
Inaugural Expo nears
The news come as the inaugural China International Consumer Products Expo (Hainan Expo) in Haikou (7-10 May) approaches. The event has attracted extraordinary support, especially given the global pandemic, and will be attended by 630 overseas companies from 69 countries.
As reported, the Expo is co-sponsored by the Ministry of Commerce and the People’s Government of Hainan Province, and is the first state-level exhibition to focus on consumer products. It is being organised by Hainan IEDB.
The Moodie Davitt Report works closely with Hainan IEDB to promote the Expo and the Hainan Free Trade Port development. We will be bringing readers exclusive live coverage event, supported by our new cooperation agreement with Hainan Hinews Media Co, the province’s leading digital media company.
Note: Every fortnight The Moodie Davitt Report publishes Hainan Curated, in association with Foreo, a curated selection of all recent stories from the offshore duty free sector. Click here to subscribe free of charge and to view all back issues.
