Bank of China's Hainan branch recently signed an agreement to grant a 3.08 billion yuan?line of credit to Chinese property developer Agile Property for the development the Hainan Qingshuiwan Project.

Under the agreement, the funding will be used for providing financing support for six super five-star hotels in the Qingshuiwan.

BOC's Hainan branch has long been committed to development of the island's high-end hotels and has become the leading financial brand in the island's luxury hotels sector. It has invested in several international hotel brands, including The Ritz-Carlton, Hilton, and Mangrove.

The Qingshuiwan Project is one of the key projects under the "11th Five-Year plan" of Hainan province and is one of the major boutique scenic spots in the Opinions on Propelling Construction of Hainan as an International Tourism Destination, which was released by the State Council.

Qingshuiwan is located in Lingshui County adjacent to Sanya city, and is only a 40-minute drive to downtown Sanya and Sanya Airport. It has a coastline of around 12 kilometers.