Hainan FTZ launches multi-billion projects

Hainan Free Trade Zone this week launched 100 construction projects with a total investment of 29.8 billion yuan ($4.29 billion) from local governments and enterprises in and outside of Hainan.

A grand ceremony was held in Haikou, the capital city of China's southernmost Hainan province, on November 28 to mark the commencement of these projects.

Located in major cities and counties around the tropical island, the projects include major infrastructure work such as the second-phase Haixiu expressway and the international convention and exhibition center in Haikou, along with industrial projects such as the China Shipbuilding Corp's deep-sea testing ground. Also included are projects aimed at improving community life in the region, such as the Sanya rural domestic sewage treatment project.

A further 41 projects that will draw 34.2 billion yuan investment to Hainan were signed at the ceremony, among them the Sanya Deep Sea Science and Technology City, the SF Express Hainan port, the expansion of the CNOOC Hainan terminal, and the second phase of the Haidian Foreign Language Experimental School.

Governor of Hainan province, Shen Xiaoming, speaking at the ceremony said that the launching of these projects in Hainan showed the province's commitment to high-level planning to promote valuable construction work.

He said since construction of the Hainan Free Trade Zone was launched in April, major national and international enterprises have come to Hainan to show their interest in and support for the development of the Hainan Free Trade Pilot Zone, which was expected to show significant progress by 2020.