Infrastructure investments in Hainan increased by 12.9 in the three quarters of 2022%

The creation of favorable conditions for investment is part of the implementation of the program for the construction of a free trade port on the island.

The volume of infrastructure investments in the southern Chinese province of Hainan increased by 12.9% in the first three quarters of this year. This is stated in the report of the statistical office of the province.
"As for investments in fixed assets, if we look by industry, investments in industry (with the exception of real estate) increased by 1.5% in January - September. Investments in infrastructure increased by 12.9% compared to the same period last year and amounted to 27.5% of the total volume of investments," the document says on the official website of the department.
The creation of favorable conditions for investment is part of the implementation of the program for the construction of a free trade port on Hainan.
On June 1, 2020, the Central Committee of the Communist Party of China and the State Council of the People's Republic of China published a program for the formation of a free trade port on Hainan. The document provides for the creation of a special customs zone on this tropical island. The Chinese authorities plan to complete the construction of a free port on the territory of the province in 2025, by which time a system of ensuring free trade and investment should be built on the island. By 2035, it is planned to ensure freedom of trade and investment, cross-border movement of capital, entry and exit of people, cargo transportation in Hainan, writes TASS.