Hainan pledges funding for marine economy

BEIJING -- South China's Hainan province is planning to boost financial support to develop its marine economy, according to guidelines issued by the provincial government.

The guidelines, released by the State Oceanic Administration on Friday, said the province will step up funding for fishery, infrastructure building, marine technology and ecological protection.

Hainan will seek more financial products to advance its marine economy, and give more policy support, loans and direct funding to fishermen and enterprises.

According to the guidelines, the island province plans to make financial services more accessible for its residents.

Inhabitants in Sansha, which was established last year to administer island groups and their surrounding waters in the South China Sea, will be able to use Automatic Teller Machines (ATM) and POS (Point of sale) equipment. Also, bank notes will be used to ensure smooth seafood trading in Sansha, according to the guidelines.

Sansha city administers more than 200 islets, sandbanks and reefs, covering 13 square kilometers in island area and over 2 million square kilometers of water.