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Turnover of key parks in Hainan FTP exceeds $71.7 billion in 2020

ehainan.gov.cn | Updated: 2021-03-10

Over 38,200 enterprises had registered in the 11 key parks of Hainan Free Trade Port by the end of 2020, Hainan Daily reported on March 9.

In 2020, the companies' total turnover grew by 80.85 percent year-on-year to 466.6 billion yuan ($71.7 billion), contributing 39.5 billion yuan in tax, an increase of 12.32 percent. 

A raft of projects considered to be "initial achievements" for Hainan FTP construction were launched in the parks. These included the first Qualified Foreign Limited Partners (QFLP) fund and an independent advanced education institute opened by overseas universities.   

The 11 parks have showed great economic contributions to Hainan with many industrial clusters gradually taking shape. The Yanpu Economic Development District, for example, saw a turnover worth 161.3 billion yuan, climbing by 35.25 percent year-on-year. The Sanya Central Business District, as it speeds up its upgrading and optimizes its business registration procedures, introduced 11 Fortune Global 500 enterprises and five Fortune China 500 companies.

The parks also proceeded steadily with their infrastructure construction, with a growing amount infrastructure investment seen in 2020 covering areas such as education, medical and health, housing, leisure and entertainment. As of the end of December 2020, the park had completed a fixed asset investment of 60.6 billion yuan, 20.67 percent more than its annual investment completion target.