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Hainan Boosts Aquatic Products Production
The island province of Hainan in southernmost China is carrying out an aquaculture project, aiming to raise its annual output of aquatic products to one million tons by the year 2002.
This will generate a yearly output value of nine billion yuan ( more than 800 million US dollars), according to government officials.
To hit the goal, the provincial government will invest more than 600 million yuan to the fishery sector every year, when financial institutions will provide 210 million yuan in loans.
Meanwhile, the province will, beginning this year, build 300 fishing boats and purchase 60 ocean-going service ships to join the fleet to go fishing at Nansha Archipelago in South China Sea.
The breeding of abalone and prawn will also be boosted.
The province is also keen on attracting domestic and overseas investors to increase investment in this sector.
Up to now, 150 businesses from other parts of China and overseas have invested more than 1.2 billion yuan in Hainan's ocean-going fishing, mariculture, sea food processing and transportation.
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