China's Hianan Sets 9-pct Target For GDP Growth

HAIKOU, (UrduPoint / Pakistan Point News - 21st Jan, 2022 ) :China's southernmost province of Hainan is targeting economic growth of around 9 percent this year, governor Feng Fei said Friday.

The province, which is building a free trade port, recorded an 11.2-percent gross domestic product (GDP) growth in 2021, Feng said at the annual session of the provincial legislature.

The province's unique offshore duty-free policy has made a great contribution, with the tropical island reporting over 60 billion Yuan (about 9.45 billion U.S. Dollars) of offshore duty-free shopping in 2021.

Chinese authorities released a master plan for the Hainan Free Trade Port in 2020, aiming to build the whole of Hainan Island into a globally influential, high-level free trade port by the middle of the century.