China's island province sees surging use of foreign capital

HAIKOU -- The actual use of foreign capital in South China's island province of Hainan reached over $115 million in January, surging by over 366 percent year on year, local commercial authorities said.

A total of 29 foreign-funded enterprises were set up in Hainan in January, covering fields including trade, investment, medicine, agriculture and tourism, according to the provincial department of commerce.

As of Feb 28, 20 key foreign trade enterprises and 16 aquatic product processing and export enterprises in the province had resumed operations, which account for about 90 percent of Hainan's total foreign trade volume.