Hainan FTP: 129 key development projects initiated

The fourth group of free trade port projects commenced construction on July 13th in south China's Hainan province, with combined project investment for the group totaling 38.1 billion yuan ($5.88 billion). 

According to the provincial government, the 129 newly begun projects cover industrial development, public service, and basic infrastructure, accounting for 52%, 28% and 20% of the total investment respectively. This shows an optimization in the investment structure of Hainan's FTP projects compared to past project investment figures.  

Aerial photo of Haikou, capital of south China's Hainan Province and a core city for the development of the Hainan Free Trade Port. (Photo by Zhangmao / Hainan Daily)

On June 30th, 2020, China released the master plan for the Hainan Free Trade Port, with the goal to develop the island province into a globally influential high-level free trade port by the middle of the century. Since then, a total of 920 projects with a total investment of 261.58 billion yuan ($40.39 billion) have begun construction in Hainan, attracting growing numbers of investors and talented professionals from China and around the world, and injecting new energy into the development of the Hainan Free Trade Port.