Hainan SEZ celebrates 20 years of excellence

29 Apr '08

1 min read

The largest Special Economic Zone(SEZ) in Hainan Province, China celebrated its 20th anniversary in Haikou on April 26. The function was attended by Li Keqiang, Chinese Vice Premier along with other dignitaries.

While addressing the gathering, Li Keqiang urged people of Hainan to further develop the economy by transforming itself into shipping hub, and an efficient logistic centre to become one of the most important export base in the entire Southeast Asian region.

Over the past two decades, there has been a remarkable progress in the economy of the province. Hainan SEZ was the first zone that opened up to foreign investments; in past 20 years the region's GDP has augmented by 7.6 percent.

Hainan has reformed itself to make various changes, that comprises eradication of agricultural tax, which has boosted the net income of farmers to nearly 6.6 percent. The authorities have also implemented provincial insurance system for the betterment of the people.

Hainan SEZ has emerged as a great example for other four SEZs located in Shenzhen, Zhuhai, Shantou and Xiamen. Hainan created a niche for itself by making economy-oriented reforms and by constantly updating itself with latest technology and innovation for its growth.

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