HAIKOU, August 1./TASS/. The number of established enterprises with foreign capital on Hainan in the first half of 2019 reached 163, making it 2.5 times more compared to the same period in 2018. The news was reported by www.hinews.cn, citing the Hainan Department of Commerce.

The volume of attracted foreign capital in January-June in the province amounted to $160 million, which is 3.6 times more than in the first half of 2018. The news outlet notes that such indicators have allowed the province to become a leader in China in terms of foreign investment.

The main investors in the first half of this year were Germany, Canada, the Netherlands and the US. Most of the funds were invested in industrial and other facilities in cities and areas such as Wangning, Sanya, Yangpu Special Economic Zone, Lingshui County, Wenchang City, Danzhou, Chengmai County and the administrative center of the province — Haikou.

According to the publication, out of 18 industries represented on the island, new enterprises with foreign capital were set up in 17. They operate in areas such as electricity, trade, transport, entertainment industry, IT, catering and others.

Hainan's free trade zone project

In April 2018, President Xi Jinping said that the Chinese authorities intend to actively involve Hainan in globalization and to draw foreign investors to the island province. By 2050, according to the authorities, the island should become a unique international cluster with an advanced economy, developed tourism, top-notch scientific, technical and financial potential, and modern medicine. The branches of the best universities and offices of the most powerful corporations in the world will be located on the Island of Hainan.

By 2025, the Chinese government intends to create an "international center for tourism and consumption" on Hainan. In order to do so, the "Eastern Hawaii" with their unique natural landscapes, thick rainforests and great climate will establish a developed network of hotels, which blend perfectly with white sandy beaches stretching along the coastline. The combination of an exotic subtropical nature and a modern eco-friendly infrastructure will boost tourist inflow to the island from the most distant parts of the world.