China's Hainan sets 9-pct target for GDP growth

0 Comment(s)Print E-mail Xinhua, January 21, 2022
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HAIKOU, Jan. 21 (Xinhua) -- China's southernmost province of Hainan is targeting economic growth of around 9 percent this year, governor Feng Fei said Friday.

The province, which is building a free trade port, recorded an 11.2-percent gross domestic product (GDP) growth in 2021, Feng said at the annual session of the provincial legislature.

The province's unique offshore duty-free policy has made a great contribution, with the tropical island reporting over 60 billion yuan (about 9.45 billion U.S. dollars) of offshore duty-free shopping in 2021.

Chinese authorities released a master plan for the Hainan Free Trade Port in 2020, aiming to build the whole of Hainan Island into a globally influential, high-level free trade port by the middle of the century. Enditem

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