Key industrial parks at Hainan Free Trade Port register revenue of 1.36 trillion yuan in 2021

Eleven key industrial parks at Hainan Free Trade Port (FTP) in south China’s Hainan Province reported a total revenue of nearly 1.36 trillion yuan (about $211 billion) in 2021, up 134 percent year-on-year, according to the latest statistics.

Last year, the tax revenue for key industrial parks rose 47.73 percent from a year ago to reach more than 58.56 billion yuan, contributing to 40.1 percent of Hainan’s tax revenue despite occupying less than 2 percent of the province’s total land area.

The amount of completed fixed-asset investments into the FTP’s key industrial parks reached about 117.34 billion yuan in 2021, up 73.6 percent year-on-year, while the actual use of foreign investment exceeded an amount of $3.2 billion.

Industrial parks are an important carrier for the construction of the FTP. Since their establishment on June 3, 2020, the 11 key industrial parks, which were created as pilot zones and demonstration zones for promoting the construction of the FTP, have continued taking advantage of institutional innovations while optimizing their business environment, boosting the innovative development of the FTP.