China's youngest special economic zone of Hainan will concentrate
its efforts on advancing new industries in the next five years.
By the year of 2005, the island province's industrial output
value will increase from the present 6.6 billion yuan (about
US$795 million) to US$1.45 billion, said an official who has
participated in drafting the province's development plan for
the 10th five-year period (2001-2005).
While addressing
the sixth session of the Third Hainan Provincial Committee
of the Communist Party of China (CPC), Governor Wang Xiaofeng
explained that industry makes up a very small portion of the
province's gross domestic product (GDP), with the industrial
added value only accounting for 12 percent of the province's
GDP. It is only higher than that of Tibet.
The governor said
that the development of new industries featuring high technological
content and high added value is a strategic choice Hainan
will make in advancing the local economy.
According to Wang,
development and utilization of mineral resources like petroleum
and gas, processing of farm produce, forestry and aquatic
products, development of high-tech industrial projects, as
well as upgrading traditional industries will be given a boost
in the next five years.
Wang stressed the
importance of persistence in following the principles of not
destroying resources, not polluting the environment and no
low-level repetition of construction while developing new
industries.
(People's Daily
11/15/2000)
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