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China’s island province Hainan launches 43 unconventional measures to boost economy

2020-05-09 08:05:05 Xinhuanet.com

South China’s island province Hainan has released a guideline recently including 43 unconventional measures to boost economic growth.

South China's island province Hainan has released a guideline recently including 43 unconventional measures to boost economic growth, reported China Securities Journal Thursday.

The measures, covering six areas including investment, consumption, the development of industrial parks, will be implemented from May 6 to December 31, 2020.

According to the guideline, Hainan will seize the investment opportunity of new infrastructure to further promote the construction of new energy vehicle charging stations, 5G base stations, international submarine optical cables, big data centers, artificial intelligence, industrial Internet, smart parks, intelligent ports, intercity high-speed railways and urban rail transit, launching a batch of major infrastructure projects.

In terms of consumption, the province will improve relevant policies on the offshore duty free shopping and create more cost-effective travel package by integrating local catering, shopping, scenic spots and other resources.

By launching introduction events on free trade port policies and offering loans with interest discounts for enterprises which made total investment no less than 500 million yuan in Hainan in 2020, the province will further attract investors and promote domestic and foreign investments.

Meanwhile, Hainan will allow enterprises in industrial parks to expand investments within environmental capacity, making the parks an important platform for undertaking free trade port projects.

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