Fixed capital investment in Hainan increased 11.6% in January-October

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Compared with the same period in 2019, the increase was 21.4%, the Hainan Daily newspaper reported, citing data from the provincial statistics office

HAIKOU /China/, November 24. /TASS/. Fixed capital investment in the southern Chinese province of Hainan grew 11.6% year on year in the first ten months of 2021, the Hainan Daily reported with reference to the Provincial Statistics Office data.

Compared to the same period in 2019, the increase was 21.4%, the newspaper noted. The average growth rate for the two years reached 10.2%. The absolute value of the volume of funds invested is not specified.

For the January-October period, China's fixed capital investment rose 6.1% year on year to 44.58 trillion yuan (about $7.01 trillion at the exchange rate at the time of data publication).

Last June 1, the Central Committee of the Communist Party of China and the State Council of China published a program for the formation of a free trade port in Hainan. The document provides for the creation of a special customs zone on this tropical island. The PRC authorities plan to complete the construction of the free port on the territory of the province in 2025, by which time the island should have a complete system of free trade and investment. By 2035, Hainan is expected to be free of trade and investment, cross-border capital flows, entry and exit of people, and freight transportation.

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