Hainan Governor Liu Xiaoming outlined bold economic ambitions for China's southern island province during an exclusive interview with CGTN host Liu Xin, spotlighting opportunities in green energy, tourism, and international trade.
The provincial leader detailed progress on Hainan's Free Trade Port initiative – a cornerstone project aiming to establish 100% foreign investment access in key sectors by 2025. "Our GDP grew 12% year-on-year in Q1, driven by advanced manufacturing and high-tech agriculture," Liu revealed, noting the creation of 85,000 new jobs linked to these industries.
Environmental protection featured prominently in the discussion. "We're allocating 3.8% of our annual budget to coastal ecosystem preservation," the governor stated, referencing measures to protect coral reefs while developing sustainable fisheries. Tourism infrastructure upgrades aim to accommodate 110 million annual visitors by 2026.
Academic partnerships emerged as another priority, with Hainan establishing research collaborations with 42 universities across 17 countries. The province recently launched Asia's largest offshore duty-free complex, recording $2.4 billion in sales during 2023's peak shopping festival.
For international investors, Liu highlighted simplified customs procedures achieving 98% clearance automation rates. Cross-border capital flow reforms now enable 27 categories of unimpeded transactions for overseas-funded enterprises.
