Collective signing of important investment agreements worth $ 3.69 bln organized on Hainan

By / TASS / Updated: 10:26,25-August-2021

HAIKOU, August 22. /TASS/. The Hainan authorities organized a collective signing of big investment agreements worth 24 billion yuan ($ 3.69 billion at current exchange rates), reported www.hinews.cn.

According to the news outlet, the ceremony took place in the administrative center of the province — Haikou. It was attended by Party Secretary Shen Xiaoming and Governor Feng Fei. The participants signed more than 50 contracts for the implementation of projects on tourism, modern services and the latest technologies.

As the local administration clarified, more than half of the facilities that will be built in accordance with the agreements are located on the territory of key innovative development sites in different parts of the island. The provincial government has also negotiated strategic agreements with China General Nuclear Power Group (CGN) and Shanghai Stock Exchange. Moreover, the Hainan Department for Commerce and tForeign Trade Division of Thailand's Ministry of Commerce signed a letter of intent, expressing their mutual intention to develop bilateral trade.

"Recently, our province has been making constant efforts to draw investors. <...> Hainan will become even more open, we will create a top-notch business climate, and we will focus on providing first-class services," Feng Fei said. As he noted, the government intends to promote the accelerated implementation of all launched projects.

"They should give new impetus to the formation of the Hainan Free Trade Port and the optimization of its sectoral structure," the governor summed up.

Ceremonies for the one-off conclusion of big packages of investment agreements are held on the island periodically. This year, the collective signing of contracts took place for the fourth time. The main task of such events is to ensure the coordinated and effective development of several industries at once and, thanks to this synchronization, increase the growth rate of the regional product, boost the creation of an international trade and economic cluster on Hainan.

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