Wednesday, March 2, 2022

Tourism, modern service&high tech fuel Hainan’s economic growth

 Hainan’s tourism, modern service and high-tech industries enjoyed significant growths during the 13th Five-Year Plan period (2016-2020), the provincial government said at a press conference on Thursday.

 

Tourism

 

In 2019, Hainan recorded 83.1 million domestic and international tourists, including 1.4 million from abroad. Tourism income totaled RMB 105.8 billion (USD 16.3 billion). Accordingly, the proposed targets of Hainan’s 13th Five-Year Plan in the sector were met ahead of schedule.

 

By the end of 2019, the direct contribution rate of the tourism industry posted 11.92%, while the comprehensive contribution rate reached 27.97%.

 

 

Modern Service

 

Medical and Health

During the five-year plan period, the added value of Hainan’s medical and health industry increased from RMB 10.2 billion to RMB 16.9 billion (USD 2.6 billion). The industry’s proportion of GDP rose 0.7% to 3.2%.

 

Due to the outbreak of the novel coronavirus, the added value of the medical and health industry gained RMB 11.5 billion (USD 1.8 billion) during the first three quarters of 2020.

 

Internet

In 2016-2019, the province’s Internet industry witnessed rapid growth, posting an average annual growth of 30%. By the end of 2020, the industry revenue reached RMB 120 billion (USD 18.5 billion).

 

Financial

In September 2020, Hainan’s Qualified Foreign Limited Partner (QFLP) fund was successfully launched, attracting nearly RMB 647 million (USD 100 million).

 

By the end of December 2020, Hainan's new offshore international trade balance exceeded USD 1.8 billion (RMB 11.64 billion), an 11-fold jump from 2019.

 

 

High-tech

 

Hainan reported 838 high-tech enterprises within the term of validity at the end of 2020, increasing 48.1% from the previous year.

 

According to statistics, the number of high-tech enterprises is expected to surpass 1,000 during the first quarter of 2021. The operating income of high-tech enterprises is forecast to reach RMB 84.1 billion (USD 13 billion), climbing 9.9% year-on-year.


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