Hainan launches work on 100 projects with 49b yuan investment

A total of 100 Hainan Free Trade Port projects with 48.9 billion yuan ($6.94 billion) investment got underway on Monday, Hainan Daily reported.

Key projects such as China Datang International Trade Center and high-quality plans like Wenchang Space Supercomputing Big Date Cluster and Maiwan water control project are among the projects.

Two 5 billion-plus yuan projects have total investment of 13.9 billion yuan, accounting for 28 percent of the total, while the total investment of eight projects, with investment scale of 1-5 billion yuan, amount to 16.1 billion yuan, or 33 percent of the total.

Forty-six projects, with investment scale of between 100 million and 1 billion yuan, have total investment of 17 billion yuan, accounting for 35 percent of the total, and 44 less than 100 million yuan projects have total investment of 1.9 billion yuan, accounting for 4 percent.

A total of 15.5 billion yuan, or 32 percent of the total, has been invested in 30 projects covering industrial development; 29.7 billion yuan, or 61 percent, has been invested in 50 projects covering infrastructure enhancement; and 3.7 billion yuan, or 7 percent, has been invested in 20 projects covering people's livelihood and public services.

The China (Hainan) Free Trade Zone General Plan was officially released on Oct 16, 2018. According to the plan, a free trade port system will be established in Hainan by 2025, and China aims to make the free trade port system and operational mode "more mature" by 2035.

Over the past two years, a total of 893 projects started construction, with total investment of 484.1 billion yuan, the newspaper said.