China's island province reports 9.2 pct GDP growth in 2023-Xinhua

China's island province reports 9.2 pct GDP growth in 2023

Source: Xinhua

Editor: huaxia

2024-01-23 20:48:30

HAIKOU, Jan. 23 (Xinhua) -- Hainan, China's southernmost province, saw its GDP grow by 9.2 percent in 2023 as booming tourism turbocharged economic recovery, according to Hainan governor Liu Xiaoming.

The tropical island province is eyeing GDP growth of around 8 percent for 2024, Liu said while delivering a government work report at the annual session of the Hainan Provincial People's Congress.

According to the work report, Hainan's 2023 GDP growth of 9.2 percent ranked second in China. Its value-added industrial output climbed 18.5 percent in 2023 and its value-added services output grew 10.3 percent, with both of those figures ranking first in the country.

The revival of tourism, in particular, has lent impetus to Hainan's economic rebound. The province, which is known for its scenic beaches and offshore duty-free stores, last year reported a 49.9 percent increase in tourist arrivals and a 71.9 percent rise in tourism revenues, according to Liu.

More than 90 million tourists visited Hainan last year, pushing its tourism revenue up to about 181.3 billion yuan (about 25.5 billion U.S. dollars), the provincial government said earlier this month.

The work report suggests that this year, Hainan aims to increase its tourist arrivals and tourism revenues by 10 percent and 14 percent, respectively, while nurturing new productive forces in fields such as the seed industry and aerospace.

In June 2020, China released a master plan to build the whole of Hainan Island into a globally influential and high-level free trade port by the middle of the century.