OREANDA-NEWS. The authorities in the southern Chinese province of Hainan registered in November the simultaneous launch of 129 investment projects with a capitalization of 125.4 billion yuan ($ 17.4 billion). This was reported by the administration of the region.

As noted on its official page on the WeChat social network, the launch ceremony took place in Haikou. It also signed contracts to finance several projects, at the initial stage providing for the allocation of 19.9 billion yuan (more than $ 2.8 billion). "The scale of capitalization this time surpassed all the previous ones", the provincial administration said. Investment projects are aimed at expanding the nuclear power facility in the western part of the island, creating an energy exchange and a research center in Haikou, a repair center at the Meilan International Airport and other purposes.

The simultaneous signing of a large number of contracts in Hainan is carried out periodically to stimulate funding aimed at developing the island's free trade zone and port. Such large-scale events have been held in the resort province for six times. Since the fall of 2018 (not including November this year), more than 660 projects with a capitalization of 309.8 billion yuan ($ 44.2 billion) have been launched in the province.