City looks to overseas capital

The mayor of Haikou says the capital city of Hainan province will seek more overseas capital this year to develop advanced manufacturing, modern agriculture, services and environment protection.

Yet Mayor Xu Tangxian adds that the major players this year will likely be local businesses and development parks.

Xu says the city has set an economic growth target of 12 percent this year, compared to 12.6 percent in 2007, while lowering the cost of energy by 2.5 percent.