South China's Hainan province plans to invest 3.5 trillion yuan ($516.85 billion) in the next 11 years to build the southern tropical island into an international tourism island, sources from the Hainan Tourism Development Commission said, the Shanghai Securities News reported Monday.
The Hainan government will promote the cooperation between finance and tourism, encouraging tourism enterprises to go public or issue corporate bonds, the report said.
According to rough estimates, the total investment in fixed assets will reach 3.52 trillion yuan between 2010 and 2020, covering tourism and other service industries, including agriculture and industry, said Deng Xiaogang, of the Hainan Tourism Development Commission.
The investment will hit 1.2 trillion yuan between 2010 and 2015, he added.
According to statistics, Hainan completed a total investment of 100.25 billion yuan in fixed assets in 2009, up 41.1 percent from the previous year. The increase was mainly generated by the service industry, the report said.