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BIZCHINA> Top Biz News
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Hainan blossoms over 20 years as province
By Huang Yiming (China Daily)
Updated: 2008-05-03 10:37 The range of the island's industries - before 1987 mostly agricultural - has grown to include automobiles, paper making and petrochemicals. When adjusted for inflation, industrial output value grew 15.5 percent annually over the previous 20 years to breach the 100 billion yuan mark last year. Plans for industrial growth in Hainan intend to minimize pollution and depletion of resources in a bid to protect the ecology of the tourist hotspot. Because of its location and climate, further development of the island's tropical agriculture is a priority on the government's economic blueprint. Hainan is now a chief supplier of vegetables and fruits in China, especially in winter. It is also gradually developing as a significant supplier of livestock to the country. The value of its agricultural output more than quadrupled in the past 20 years to reach 38.2 billion yuan in 2007. When adjusted for the cost of living, figures show the agriculture sector has grown 8.5 percent annually since 1987. The booming tourism industry is another bright spot in Hainan's economic development. Its travel sector took in 17.13 billion yuan in revenues last year, 149 times of that in 1987. The island now has numerous resorts, some of which have become household names in China and familiar internationally. Yalong Bay in Sanya is famed for its beautiful beach, while the annual Boao Forum in the city of the same name is well-known in the country and the region. (For more biz stories, please visit Industries)
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