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Fixed Assets Investments in China's Biggest SEZ Increasing
Investment in fixed assets in south China's Hainan Province, also the country's largest special economic zone (SEZ), has been growing by double digits since the beginning of the year.
According to local sources, fixed assets investment exceeded 6.7 billion yuan (about 807 million US dollars) in Hainan Island from January to June, up 46.2 percent from the same period last year.
Hainan, which used to fall under jurisdiction of south China's Guangdong Province, became a province of its own and a special economic zone in 1988. However, infrastructure had been few and backward.
Investments in fixed assets have been diverse and have increased rapidly in the past few years. From 1998 to 2000, fixed assets investments totaled 56.64 billion yuan (about 6.83 billion US dollars), said the local sources.
With increased funding for fixed assets, this south Chinese island province has been blessed with completion of a group of major projects, including Meilan International Airport in Haikou, the provincial capital, and 318-km-long expressways.
Different parts of the island province are now connected by an expressway ring built along the island coast. A railway project linking up Guangdong and Hainan began construction in 1998 and will be finished and ready for service by 2002. The island province is also placed higher up in the country by the availability of dialing service.
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