Hainan FTP: Key industrial parks take in ¥2 trillion in 2023

The thirteen key industrial parks in China’s Hainan Free Trade Port (FTP) all saw an increase in revenues in 2023, with total revenues from all thirteen combined surpassing two trillion yuan (approx. $0.3 trillion), a year-on-year increase of 18.3%.

With the rapid development in wholesale trade, manufacturing, and transportation, Hainan’s four key industrial parks— the Yangpu Economic Development Zone, Haikou’s Jiangdong New Area, the Sanya Central Business District, and the Haikou Integrated Free Trade Zone—have seen impressive increases in annual revenues, contributing 16.1% of the total increase in revenues earned in the FTP’s industrial parks.

Aerial view of the Jiangdong New Area in Haikou. (Photo: Hainan Daily)

Last year, the thirteen industrial parks received over 127.9 billion yuan (approx. $18 billion) of investments in fixed assets, up 0.1% year on year. Investments in projects in Lin’gao Jinpai Port Industrial Park, Wenchang International Aerospace City, and Hainan Ecological Software Park saw impressive double-digit rises.

Foreign trade in the FTP’s key industrial parks also maintained a steady upward trajectory over the last year. Imports and exports of goods in the parks totaled 173 billion yuan (approx. $24.36 billion), a year-on-year increase of 26.1%.

This year, the Hainan FTP will continue to improve industrial park management and work to attract more investment to accelerate industrial development.