Boao Forum for Asia: Host province Hainan developing into vibrant economy
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Hainan province – a tropical island roughly the size of Switzerland – hosts the annual Boao Forum for Asia. It lies roughly 30 kilometres off the south coast of the densely-populated Guangdong province. Over the past 30 years, it has developed into one of China's most vibrant economies, due to its attractive winter climate and marine economy. Let's take a closer look now at some of the figures behind the growth.
With nearly two million square kilometers of territorial waters, Hainan Province covers a lot of water as well as ground. Over the past 30 years, Hainan's marine economy has witnessed steady growth.
Figures show Hainan's agriculture area accounts for more than 1/6 of its waters. The marine economy has expanded from less than 6% of its GDP to nearly 30 percent over the past 30 years, when Hainan officially became a province.
In 1987, the GDP of Hainan was only about 5,728,000,000 yuan. By 2017, Hainan's GDP had reached 446,254,000,000 yuan.
Investments are still falling short. And so the province hopes to take advantage of the Boao Forum for Asia by landing some deals.
Located at the southern end of the Pan-Pearl River Delta, Hainan has set a goal for 2018 to collaborate more with Pan-Pearl River Delta cities, as well as the Greater Bay Area to deepen ties with Guangdong Province, Hong Kong, Macao and Taiwan.