HAINAN: CHINA’S PROSPECTIVE NEW HONG KONG | Spirit of Asia

Hainan, the island in the south of China, is recognized as a fast and newly developed area. Speaking of economic development, it might not be able to compare with Guangdong or Shanghai which have been enriched for thousands of years. Hainan Island was planned as a city, laid down a transportation system, and established an official civic center during the Ming dynasty. Money flow started when the Kuomintang (KMT) government used Hainan as a main point to attract foreign investors.

Hainan Island’s economy faced a recession from the Japanese occupation during World War II to the Cultural Revolution when all private properties were confiscated by the central government.

Afterward, the Beijing government announced Hainan as the latest province separated from Guangdong. Hainan at that time tried to gather new graduates or young investors to work in the region. Concrete roads, electricity, water supply, and basic infrastructure made Hainan as prosperous as the surrounding provinces. In 2008, the Beijing government announced Hainan as a tourist island. A drop of honey attracted many real estate investors from China mainland to build condominiums.

Even though Hainan is always challenged by changes, this new change will be the greatest ever. On this trip, we will bring you to Hainan to learn about their preparation for being China’s largest Special Economic Zone by 2025. What will Hainan look like in the future ?
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