Seven measures to boost Hainan's technological towns

The General Office of the Hainan Provincial People's Government recently issued seven measures to support the development of the Sanya Deep-sea Science and Technology Town, the Nanfan Breeding Science and Technology Town and the Wenchang International Aerospace City.

The provincial government will establish a fund protection mechanism and seek financial support from the central government. Financial sectors from provincial and municipal governments will arrange 1.5 billion yuan ($221.8 million) annually to support the development of the three science and technology towns.

Several market-oriented foundations will be set up and the current 20 billion yuan ($2.96 billion) provincial-level development fund for characteristic industrial towns will be used to support industrial development in the towns.

The new measures also include preferential fiscal support, flexible land use patterns and period supply systems, improved public service functions, and incentives to self-reform and innovate.

The measures will be in effect for five years. The starting time of the first two towns is 2019 and the third will be dependent on its current development status.