Hainan Sets New Industrial Development GoalChina's youngest special economic zone of Hainan will concentrate its efforts on advancing new industries in the next five years.By the year of 2005, the island province's industrial output value will increase from the present 6.6 billion yuan (about US$795 million) to US$1.45 billion, said an official who has participated in drafting the province's development plan for the tenth five-year period (2001-2005). While addressing the sixth session of the Third Hainan Provincial Committee of the Communist Party of China (CPC), Governor Wang Xiaofeng explained that industry makes up a very small portion of the province's gross domestic product (GDP), with the industrial added value only accounting for 12 percent of the province's GDP. It is only higher than that of Tibet. The governor said that the development of new industries featuring high technological content and high added value is a strategic choice Hainan will make in advancing the local economy. According to Wang, development and utilization of mineral resources like petroleum and gas, processing of farm produce, forestry and aquatic products, development of high-tech industrial projects, as well as upgrading traditional industries will be given a boost in the next five years. Wang stressed the importance of persistence in following the principles of not destroying resources, not polluting the environment and no low-level repetition of construction while developing new industries. |
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