Hainan invests over $2.2b abroad in first three quarters

Hainan province broke the record for investing in foreign countries in the first three quarters this year with a gross amount of $2.22 billion spent, ranking 7th domestically.

According to the Department of Commerce of Hainan Province, the volume of investment abroad has increased 7.8 percent compared to the same period last year and is equal to the sum total of annual investment abroad in 2015 and 2016.

An official at the Foreign Investment and Economic Cooperation Department of the Department of Commerce of Hainan Province said that the island province's investment structure has been further improved and irrational investment has been effectively contained. Hainan’s investment in countries and regions involved with the Belt and Road Initiative has been actively promoted.

In the first nine months this year, Hainan's capital has been mainly invested in agricultural planting and processing, bio-pharmacy, energy, and wholesale and retail. No new projects abroad in the real estate, sports or entertainment industries have been invested in by Hainan.