Sanya, a well-known scenic city on the southern tip of the Chinese tropical island of Hainan, disbursed a total of…
Sanya, a well-known scenic city on the southern tip of the Chinese tropical island of Hainan, disbursed a total of 182 million US dollars in overseas investment in 2002, of which 137 million, or 75 percent of the figure, is invested to the city`s tourist sector, according to latest statistics.
By the end of last year, overseas investment accounted for over 60 percent of total tourist investment in the city, said a source with the city government. For instance, 58 percent of hotels rated three stars or above, as well as all golf courses, are overseas-financed.
Overseas investors have initiated a series of tourist projects in Sanya, of which 14 have financing topping 100 million yuan (about 12 million US dollars).
A typical overseas-financed project, Yalong Bay, with its blue waters and pristine beaches, has been transformed into a national holiday resort which receives millions of visitors every year.
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