Hainan Province in China
The Hainan Province is an island province of South China, which is separated by the Qiongzhou Strait from the southwest coast of Guandong Province. Hainan has an area of approximately 34,000 square kilometres with an estimated 7.9 million inhabitants.
The city of Haikou, on the north coast, is the capital of Hainan. Haikou was formerly a treaty port. In 1939 Haikou was seized by Japanese forces, but in 1945 it was returned to China. During 1987 Haikou was given the status of being a special economic zone and incentives were offered for foreign investments and trade. At that time the island was included in the Guangdong Province, but in 1988 the island was formed into Hainan Province.
From a business perspective, agriculture and food processing form a large part of the economy of Hainan, with the growth and export of more than 20 varieties of fruit and vegetables, as well as cinnamon, sugar, tobacco and rice. Hainan has rich mineral deposits, such as copper, tin, iron ore, lead and bauxite (an aluminium ore). The island has a thriving petro-chemical industry and is the largest producer of rubber in China. It’s no wonder that Hainan’s GDP has shown a steady increase over a number of years.
From a social perspective, with the help of the poverty alleviation plan, the number of people living in poverty is decreasing significantly, as is the unemployment rate, all of which contributes to the stability of Hainan.
With tourism being a major source of income to Hainan, there are many interesting tourist attractions to explore. For a fascinating glimpse into the past you can visit Hairui Tomb (Hairui was an officer during the Ming Dynasty who earned a reputation for his compassion) and Wugong Temple. Tourist villages – which are built near the main roads across the island – display the distinctive costumes, handicrafts and traditional dances of the local communities. The island’s temperate tropical climate, clean sandy beaches, coconut groves and natural beauty have caused many to refer to this popular tourist destination as “the Oriental Hawaii”.
Taking all these factors into account, it is clear that there are many opportunities for the astute business person to benefit from a visit to Hainan, both to do business and to take time to relax.