GNP statistics and investment in Hainan Province, China in 2020

Hainan released a report on economic performance: in the first three quarters of 2020, the province's GDP was 384.131 billion yuan, an increase of 1.1% over the same period last year, and the cumulative growth rate shifted from negative to positive.


Behind the numbers is the rapid improvement in supply and demand in the Hainan market, as well as increased economic activity. The growth rate of many indicators in Hainan, especially in the third quarter, reached record levels in recent years.


The impact of the epidemic on Hainan's economy is clearly reflected in the data, and Hainan's efforts to combat the epidemic are also fully reflected in the data.


An annual decline of 4.5% in the first quarter, a decline of 2.6% in the first half, and an increase of 1.1% in the first three quarters. Analyzing Hainan's GDP growth trend this year, Zhang Yong, a researcher at the Shanghai Free Trade Zone Institute at Fudan University, believes that the province is like a province in some other country: “Hainan is actively developing tourism, modern services and other industries. and the epidemic affected him to a greater extent. Through a series of emergency measures, Hainan has effectively promoted economic and social development, ”said Zhang Yong.


When talking about the economy of Hainan in 2020, the construction of the Hainan Free Trade Port should also be mentioned. On June 1 this year, the Hainan Free Trade Port General Plan was published, and the construction of the Hainan Free Trade Port attracted worldwide attention.


Statistics show that in the third quarter of this year, the province's GDP, value added in services and other important economic indicators achieved positive growth. Investment in fixed assets increased by 18.3%, while total retail sales of consumer goods increased by 17.7%, both of which hit a new high since 2018. In particular, since April, retail sales of duty-free goods in the outer islands have consistently maintained high growth rates. You can watch hundreds of videos of excursions on the island of Hainan here: