Hainan's regional GDP shows strong growth in first three quarters

By / ehainan.gov.cn / Updated: 10:05,25-November-2021

According to the Hainan Provincial Bureau of Statistics, Hainan province's GDP in the first three quarters of this year was 450.8 billion yuan ($70.6 billion), a year-on-year increase of 12.8 percent at constant prices. The two-year average growth rate was 6.8 percent, the highest in the country. 

The added value of the primary industry was 88.7 billion yuan, a year-on-year increase of 4.4 percent; the added value of the secondary industry was 83.5 billion yuan, a year-on-year increase of 7.8 percent; and the added value of the tertiary industry was 278.5 billion yuan, up 17.4 percent year-on-year.

"In the first three quarters, Hainan's economy recovered steadily, and operating quality further improved. Among the main indicators, agricultural production grew steadily, while the industrial, service, investment, and consumer goods markets maintained rapid growth," said Wang Yu, deputy director of the Hainan Provincial Bureau of Statistics.

The remarkable growth in regional GDP is due to the increasingly improved business environment and further optimization of the soft investment environment in the context of the construction of the Hainan Free Trade Port.

Hainan has issued regulations on optimizing its business environment and fair competition and introduced implementation plans for major Hainan FTP projects to promote its business environment.

In order to achieve effective investment and precise investment promotion, Hainan has strengthened its industrial project reserves, reserving 32 projects with an estimated total investment of 404.7 billion yuan. 

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