Construction on three industrial projects begins after China announces Hainan FTZ plan

HAIKOU - Construction on three mega industrial projects began Wednesday in South China's Hainan province after the country announced the decision to build the island into a free trade zone last month.

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.

Workers are expected to have completed 1 million square meters for the three projects at year end, with the 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.

China in April announced its plan to build the whole island of Hainan into a pilot free trade zone and support Hainan to gradually and steadily push ahead with the building of a free trade port.