Home  >  Business   >   Why Hainan
Why Hainan

Hainan succeeds in building intl tourism consumption center

ehainan.gov.cn | Updated: 2022-05-19


An aerial view of the high-end hotel group in Sanya Haitang Bay. [Photo/WeChat account: HainanFTP] 

In recent years, Hainan has deepened foreign exchanges and cooperation, as well as promoted the in-depth integration of tourism, culture, and sports. It has achieved remarkable results in opening-up and building an international tourism consumption center.

In terms of foreign affairs, Hainan has held four Boao Forum for Asia Annual Conferences in the past five years and received 40,000 foreign guests. Hainan's foreign exchange circle has expanded from neighboring countries to North America, Europe, and Oceania. It has also deepened its exchanges from people-to-people and cultural exchanges to multi-field exchanges spanning economy, trade, tourism, technology, agriculture, education, as well as health.

In terms of tourism consumption, the province has received 305 million domestic and foreign tourists since 2018, generating 426.5 billion yuan ($63 billion) in total tourism income. The province is also attracting foreign investment to further develop its tourism industry.

In recent years, policies and institutional systems for comprehensively deepening reform and opening-up have taken shape, while more than 150 policy documents focusing on trade and investment liberalization and facilitation have come into effect in the province. In addition, preparations for the island-wide customs clearance of the Hainan Free Trade Port have been fully launched.

According to statistics, the province's actual utilization of foreign capital has exceeded $9 billion in the past five years, which is close to the total of the previous 30 years.

In addition, the trade structure of Hainan has been continuously optimized. In 2021, the proportion of Hainan's traditional export commodities, such as refined oil, paper products, and aquatic products, dropped from 56.4 percent to 40.1 percent, while electric cars, vaccines, auto parts, as well as electrical equipment became new commodities with increasing export value.