xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

maritime silk road search
Local

Hainan sets up multi-billion-yuan fund for FTZ construction

February 26, 2019


Abstract : Southern China's island province of Hainan has launched a 3 billion yuan (449 million U.S. dollars) fund for free trade zone (FTZ) construction, local authorities said Sunday.

SANYA, Feb. 25 (Xinhua) -- Southern China's island province of Hainan has launched a 3 billion yuan (449 million U.S. dollars) fund for free trade zone (FTZ) construction, local authorities said Sunday.

The municipal government of Sanya, a popular tourist city, and Hainan Development Holdings Co. Ltd. each invested 1.5 billion yuan to set up Hainan Pilot Free Trade Zone Opening and Development Fund. The fund, with a target scale of 50 billion yuan, will offer financial support for projects in Hainan.

Tong Daochi, Party secretary of Sanya City, said the fund will aid the development of the environmental protection industry and small and micro businesses in Hainan, and help the province build itself into an international tourism consumption center.

Hainan was approved in April 2018 to build a pilot free trade zone covering the whole island and explore the establishment of a free trade port with Chinese characteristics.

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial