Hainan attracts 38b yuan investment at Hong Kong event

Hainan reaped 38 billion yuan ($5.75 billion ) in investment from overseas Hainanese for 27 new projects covering tourism, new high technology and education at a promotion meeting in Hong Kong on Saturday.

Hong Kong Hainanese signed 16 deals with their hometowns while the others were snatched by Hainanese in other countries and regions. Hong Kong has been one of the largest sources of investment in Hainan, according to provincial authorities.

About 1,800 overseas Hainanese from 26 countries and regions attended the event, which was part of the two-day 15th World Congress of the International Federation of Hainan Associations that closed on Saturday at the Hong Kong Convention and Exhibition Center.

The biennial congress gathered more than 6,000 overseas Hainanese from 26 countries and regions, the largest ever in number, to Hong Kong to discuss deepening friendship and enhancing common development.

Shen Xiaoming, governor of the southern tropical island province, said at the opening ceremony that "for a long time, overseas Hainanese, now totaling about 3.9 million worldwide, have not only made great achievements and gained a great deal of respect in their countries of residence, but also have devoted their energy and funds to their hometown."

He said a lot of buildings, roads, bridges and schools have been built by overseas Hainanese; they also have introduced rubber and coffee growing and processing to Hainan.

"The good deeds done by the overseas Hainanese show their deep affection to their hometowns," he said.

Hainan will highlight development of in-depth processing of farm produce, health care and medical services, new high-tech and cultural industries and give priority on the growth of modern services such as finance, shipping and "corporate headquarters" economy, the governor said.

He said Hainan welcomes Hainanese both at home and abroad to make investments in these fields and share its unique advantages of ecological environment, preferential industry policies and low development costs to gain win-win development.