According to the document titled 2010 Hainan economy and social development statistics, released on Feb. 22nd, 2011, Hainan fiscal revenue grew 52.1% year on year to 27.106 billion yuan in 2010, reports
In 2010, Hainan Province saw rapid economic growth after the Chinese government revealed plans to build the tropical island of Hainan into a top international tourism destination by 2020

Hainan Provincial Government authorities attributed this robust revenue hike to surging purchases in the real estate industry.

Last year, the real estate tax accounted for 58% of the total revenue in Sanya, which so far has become a pillar industry for city development.

However, many local authorities have shown their great concerns over the current situation, and more efforts should be made to speed up the transformation of the economic structure to build Hainan into an International Tourism Island instead of a Real Estate Island. 


Translated by WOS Team
Editorial Message  
News translation appearing here is the property of, however, for those who wish to copy the contents in part or in full, please make reference and link the article copied to our site. does not necessarily endorse their views or the accuracy of their content. For copyright infringement issues please contact