China Plans to Turn Hainan into New Hong Kong
OREANDA-NEWS. April 27, 2018. Changfeng Energy Inc. (TSXV:CFY) (“Changfeng” or the “Company”) updates that in April 2018 the Central Committee of the Communist Party of China and the State Council jointly released the document that unveiled guidelines on supporting the southern island province of Hainan to deepen reform and opening up, with details on turning it into a pilot free trade zone and creating a "free trade port with Chinese characteristics." Below are articles from China Daily and South China Morning Post outlining the situation:
China unveils guidelines for deepening Hainan reform, opening up - China Daily
Who will win if Hainan, ‘China’s Hawaii,’ follows Macau to become a gambler’s paradise?
The Company believes that this state policy will increase tourism and immigration for Sanya, Hainan, PRC in the future and accordingly the revenues from city gas sales operations in Sanya should continue to increase. Furthermore, given the outlined efforts to phase out the sale of traditional oil-fueled vehicles in Hainan, Changfeng’s CNG/LNG retail station gas sales is also expected to increase in the future.
About Changfeng Energy Inc.
Changfeng Energy Inc. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the People’s Republic of China. Changfeng strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC. In 2009, Changfeng was recognized as being one of China’s the Top Ten Most Influential Brands in the Natural Gas Industry.