Hainan's Official Portal for Global Investors
HAIKOU /China/, April 25. /TASS/. Hainan province's trade volume with the states of the One Belt, One Road Initiative (Belt and Road) increased 95.5% year on year in January-March, amounting to 13.4 billion yuan (about $2 billion). This was reported by the Customs Administration of Haikou City (the region's administrative center).
According to its data, exports of Hainan products to the Belt and Road member states reached 4 billion yuan (about $616 million) in the first three months, showing a growth of 40.5%. Imports reached 9.4 billion yuan, or $1.4 billion (an increase of 135.2%). Trade with members of the Association of Southeast Asian Nations increased by 28.5%, to 6.2 billion yuan (about $ 955 million).
According to the published data, Hainan is increasing the supply of refined oil to the countries participating in the projects of the initiative, and is actively purchasing organically synthesized products from them, as well as coal.
The One Belt, One Road Initiative is a concept proposed in 2013 by Chinese President Xi Jinping to intensify international multilateral trade and investment projects involving as many countries as possible and using Chinese as well as foreign capital. More than 150 states and international organizations have already joined it.
