Target Duo: The Project of “International Tourism Island” in Hainan Special Economic Zone, China

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Author(s): Eusebio Chiahsin Leou (City University of Macao, Macao)and Jacky Xi Li (City University of Macao, Macao)
Copyright: 2022
Pages: 28
Source title: Handbook of Research on Special Economic Zones as Regional Development Enablers
Source Author(s)/Editor(s): Paulo Guilherme Figueiredo (City University of Macao, Macao), Francisco José Leandro (City University of Macao, Macao)and Yichao Li (City University of Macao, Macao)
DOI: 10.4018/978-1-7998-7619-9.ch011

Keywords: Business & Management / Economics & Economic Theory / General Law / Information Science Reference

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Abstract

The Chinese government established the Hainan province, the southernmost island province, on what was then a closed-off and underdeveloped border island in 1988. Aiming to be comprehensively developed by foreign investors, Hainan was designated in the same year as the 5th Special Economic Zone (SEZ) in China, considered as a breakthrough in China's opening-up. Hainan has been attracting people from around the world for years with its blue waters, towering coconut trees, year-round sunshine, and sandy beaches. Tourism economy plays a key role in Hainan. In the past three decades, SEZ and the initiative of International Tourism Island (ITI) has been worked together for the Chinese economy development since 2010. This unique island SEZ became a sandbox for attracting foreign investment with its preferential tax rates and favorable business environment. This chapter studied the economic development of Hainan Island in order to discover the future of this island.

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Target Duo: The Project of “International Tourism Island” in Hainan Special Economic Zone, China

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