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Construction on three industrial projects begins after China announces Hainan FTZ plan

Construction on three mega industrial projects began Wednesday in South China's Hainan province after the country announced the decision to build the island into a free trade zone last month.

The projects, which are based in Hainan Resort Software Community, involve an ecological cooperation project between Tencent and the software park, a platform for development and trading of online games, and an intellectual sports industrial base.

Workers are expected to have completed 1 million square meters for the three projects at year end, with the investment of 5 billion yuan (about $794 million), said Yang Chunzhi, general manager of the software park.

All three projects are very promising and are likely to achieve a 10 billion yuan industrial contribution by 2020, according to Yang.

China in April announced its plan to build the whole island of Hainan into a pilot free trade zone and support Hainan to gradually and steadily push ahead with the building of a free trade port.

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