The gross domestic product in Hainan Province in South China grew 17.6% year on year to RMB150 billion in the first three quarters of this year, according to the latest statistics released by the Hainan Statistics Bureau.

The growth rate, the highest level since 1994, was 7 percentage points higher than the national average of 10.6%.

In the first nine months, the province' fixed-asset investment totaled RMB 89.91 billion, 41.3% more than in the same period of last year.

Retail sales in the province rose 19.5% year on year to RMB 44.7 billion during the period.

The province recorded RMB 39.9 billion in fiscal revenue in the first three quarters, 47.1% more than in the same period of last year, boosted by the booming real estate sector.

Tax revenue from the property sector rose 151.1% year on year to RMB 8.5 billion during the period. 

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