The city of Sanya on Hainan in July increased investments in fixed assets by 29%

In July, Chinese financial institutions increased by 29% year-on-year the volume of realized investments in fixed assets of projects in Sanya, which is located on the southern coast of Hainan Island.

According to the local Committee for Development and Reform, for the specified month the volume of funds raised amounted to about 6.1 billion yuan (approximately $ 900 million).
The fixed capital includes real estate and production equipment, investments in securities, patents and licenses.
"We monitor key projects at the provincial level on a daily basis, taking into account the needs that arise during the construction of facilities," the city development committee informed. "Sanya is trying to minimize the negative consequences of the outbreak of the pandemic that occurred [on Hainan] in August."
Local authorities pointed out the important role of strategic financial funds of the PRC, which allow them to quickly attract the capital necessary to put into operation the facilities under construction in Hainan. Among the infrastructure being created in Sanya are projects in the field of bridge construction and electricity supply, the construction of drinking water tanks, the enlargement and deepening of riverbeds flowing through the city.
In order to carry out the tasks set non-stop and prevent cases of coronavirus infection among workers, the Sanya administration has established strict control on construction sites that are actually isolated from external potential sources of infection. To eliminate the risks of an outbreak of COVID-19, the management of the facilities regularly conducts tests for coronavirus for everyone who is on their territory.
Sanya is a leading Chinese resort, where more than 1 million people live. In 2021, its gross product grew by 12.1% and reached 83.5 billion yuan (approximately $13.2 billion). An important role in the development of the city is played by the new central business district, where several dozen companies with an authorized capital of 15 billion yuan (approximately $ 2.2 billion) have already been registered. The market value of goods and services produced by them in 2021 amounted to about $ 3.5 billion, writes TASS.