Construction on three mega industrial projects begins in Hainan Resort Software Community after Hainan announces free trade zone.
The projects, which are based in Hainan Resort Software Community, involve an ecological cooperation project between Tencent and the software park, a platform for development and trading of online games, and an intellectual sports industrial base.
Up to 1 million square meters for the three projects is expected to be completed by the end of the year, with an investment of 5 billion yuan (about $794 million), said Yang Chunzhi, general manager of the software park.
All three projects are very promising and are likely to achieve a 10 billion yuan industrial contribution by 2020, according to Yang.
In April the government announced plans to build the whole island of Hainan into a pilot free trade zone with plans to encourage overseas institutions to settle in Hainan.
Policies and incentives are also been drawn up to encourage multinational corporations and large domestic enterprise groups to establish international headquarters and regional headquarters in Hainan, which includes the establishment of a 21st century maritime Silk Road culture, education, agriculture and tourism exchange platform.