Farming group attracts $9.4b in investment

Hainan State Farms Investment Holding Group Co Ltd, also known as Haiken Group, the largest State-owned agricultural enterprise in the country's southernmost Hainan province, secured 20 cooperation projects on the first day of the firm's participation in a 100-day global investment promotion event on May 23.

At the event - 2018 China Hainan Pilot Free Trade Zone 100-Day Investment Project Promotion Campaign - the group signed cooperation agreements with leading industrial groups such as State-owned grains and food conglomerate COFCO, China Youth Travel Service Co Ltd, the CCCC Marine Construction & Development Co Ltd and Pagoda Investment Advisors (S) Pte Ltd, with a total investment value of 60 billion yuan ($9.4 billion).

The projects cover construction of a motor-racing town, a park with tropical flowers and fruits, a hot spring holiday resort and urban complexes.

The group has prepared 69 projects for this investment promotion event. They focus on high-efficiency agriculture, grain seed breeding, new energy vehicles, new and high technologies, finance, marine economy, tourism, special feature towns and reconstruction of shanty towns, according to Yang Sitao, Party secretary and chairman of Hainan State Farms.

Established in 1952, Hainan State Farms employs a tenth of the population of Hainan province and owns a fifth of the island's land resources. It is the developer of China's largest natural rubber base and the largest base of tropical crops.

"We will encourage social capital to participate in the reform of agricultural reclamation projects and State-owned farms through establishing agricultural industry investment funds and equity investment funds," said Yang, adding his group will gradually promote capitalization of its land resources and build a conglomerate by integrating its industrial resources.

He said Hainan State Farms will be given priority in developing the natural rubber, grain seed breeding and modern tropical agriculture industries, making the State Farms group a new growth point of the local economy and national demonstration zone for special feature tropical agriculture.

Yang said that in recent years, Hainan State Farms has vigorously implemented a "talent cultivation" strategy, and will continue to introduce talent at all levels, especially top-tier talented individuals.

During the event, the group plans to recruit 340 talented employees, including 12 high-ranking personnel, 61 middle-level managers and more than 200 technical workers, as the event is also held to attract talents.

Hainan province launched the event starting on May 20 to attract global investment to help advance its development as a pilot international free trade zone.

The event will target the world's top 500 companies, leading industrial conglomerates and internationally well-known enterprises to start projects on the island or establish headquarters or regional headquarters in Haikou, capital of Hainan, or Sanya, a holiday resort city at the southern tip of Hainan, said government officials at a news conference in Haikou on May 20.

Key areas set to attract investors include tourism, high-efficiency tropical agriculture, medicine and healthcare, modern financial services, new and high technologies, conventions and exhibitions, the ocean economy, infrastructure, revitalization of rural areas and protection of the ecological environment, according to Peng Jinhui, vice-governor of Hainan.

The initiative is one of the measures announced to implement the requirements set by the authorities in April to welcome investors from around the world to participate in the building of Hainan into an international pilot free trade zone.