Hainan eyes 7 to 7.5% growth as FTZ expands

Hainan province recorded GDP growth of 5.8 percent in 2018, Shen Xiaoming, governor of the island province, said on Sunday.

According to the government work report Shen delivered to the Hainan Provincial People's Congress, which opened its annual session on Sunday, Hainan's GDP reached 483.2 billion yuan ($71.6 billion) in 2018.

The 5.8 percent growth rate falls short of the 7 percent target Hainan set for last year, but officials said it lies well within their expectations after the local government "took a decisive move" to tame an overheating real estate sector.