Southern Chinese Province Reports Increased Revenues

HAIKOU, August 2 (Xinhua) -- China's island province of Hainan had a year-on-year increase in revenues of 27.2 percent for the January to June period.

According to local sources, the revenues in the first six months of this year amounted to 1.977 billion yuan, mostly from various funds, state assets, administrative charges, and fines. Expenditures for the period were 2.368 billion yuan, up 16.5 percent.

By late June, bank deposits in the province stood at 80.33 billion yuan, up 2.7 percent and loans were up 5.4 percent to 84. 35 billion yuan.

Vice-governor Wang Houhong told local finance officials at a recent conference that they should work harder to increase revenues by learning how to manage things better and make good use of various funds.

Hainan, which previously was a part of Guangdong Province, became a province and a special economic zone in 1988.