HAIKOU, August 8./TASS/. Revenues of Internet companies in the Hainan province in the first half of 2019 increased by 28.81%, to 31 billion yuan (about $ 4.44 billion), the Hainan Daily newspaper reported.

As the publication points out, such a significant increase is explained by the policies of the authorities and the preferential conditions that the regional government provides to leading companies in the industry when they open their branches on the island. In particular, in 2018, three large companies signed cooperation agreements with the Hainan government: the Internet giant Tencent, the world's largest online trading platform Alibaba, and the Baidu search engine.

In addition, the provincial authorities pin hopes on the Fullsing Town Internet Innovation Park (the Chinese name is Fusincheng), which was opened in Haikou in 2015 and specializes in IT. Currently, 771 enterprises are registered there, and in the first half of 2019 alone, more than 100 new companies were have joined the park.

The list of residents includes Alibaba and its financial division, Ant Financial, PricewaterhouseCoopers (PwC), and Chinese video hosting iQiyi.