Hainan to build tourism investment and financing platforms
Currently, the National Development and Reform Commission has approved the Hainan International Tourism Island Construction and Development Plan, according to which Hainan will set up six investment and financing platforms based on the different sources and uses of capital.
The first is the Hainan International Tourism Island Development Fund which relies on subsidies from central government and that will be used in the development and construction of tourism infrastructure and major operating projects. The second is the Hainan Province Tourism Development Special Fund, which will be used for Hainan tourism image publicity, planning and preparation, personnel training, and building tourism public service systems. The third is the Hainan Cultural Industry Development Special Fund, which will integrate the existing investment in the cultural industry and will be used in the protection and enhancement of Li and Miao ethic culture, historic culture, folk culture, and marine culture, as well as the development of tourism cultural products. The fourth is the Hainan Ecotourism Development Special Fund, which will integrate the existing funding channels and broaden the sources of capital to invest in the planning and construction of ecotourism. The fifth is the Hainan Tourism Industry Investment Fund, which is a private equity fund attracting investment from financial institutions and large enterprises, and will be used in the development of operational projects in tourism. The sixth one is the Real Estate Investment Trust that will support the development of Hainan's real estate market.
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