Hainan's Internet industry revenues up 52.5% in 2020

The revenues of Hainan's Internet industry companies in 2020 exceeded 125.7 billion yuan (about $ 19.4 billion at current exchange rates), an increase of 52.5%, reported the Hainan Daily newspaper citing an official source.

According to the newspaper, over the thirteenth five-year period (2016-2020), this figure has increased more than fivefold. Active boost to the development of the industry, as the publication clarified, is provided by technology parks located in Haikou (Hainan's administrative center) and on the territory of several counties in the northern part of the island, as well as in the south of the province. As a result, the dynamic growth of this sector on Hainan has recently created many new jobs for skilled specialists.

"Last year, in Shanghai, as well as in the cities of Shenzhen (southern Guangdong) and Xiamen (eastern Fujian), we organized presentations of Hainan's main innovation zones for investors," said Chen Ping, a spokesman for the Regional office for Industry and Informatization. "We presented the advantages of Hainan's free trade port, helped to establish channels for cooperation between technology parks and large enterprises. "

As the official clarified, as a result of these efforts, a number of important contracts were signed in 2020, which are expected to significantly accelerate the formation of a modern Internet industry on the island in the coming years.

The Industrial Network Technology Development Incentive Program is one of Hainan's 12 key industry strategic projects. According to the decision of the Chinese government, the province is also creating enterprises for the production of high-tech electronic products using AI (artificial intelligence) and using the latest digital platforms.