Hainan's overseas investment exceeds $400m in Jan-July

( Xinhua )

Updated: 2011-08-22

HAIKOU-- Overseas investment by enterprises in south Hainan Province has totaled $400 million in the first seven months of this year, sources with the provincial Department of Commerce said Sunday.

Hainan's overseas investment has mainly gone to eight countries and regions, which includes India, Singapore, Tanzania, Indonesia and Russia, the department said in a statement.

The investment covers a variety of industries such as asset acquirement, electromechanical equipment, planting, and mineral exploitation and processing, according to the statement.

Among the 19 enterprises that invested abroad in the first half of this year is HNA Group, the parent company of Hainan Airlines, of which the investment accounts for the majority of the total.

Thanks to the expansion of overseas investment, Hainan's automaker Hainan Mazda witnessed a seven-fold increase of exports to 25.75 million dollars from Jan. to July.

So far, more than 50 enterprises in Hainan Province have invested abroad, further broadening the fields of investment, according to the commerce department.