Hainan has the conditions and is ready for development and construction in large scale, said Wei Liucheng, governor of Hainan province in a news conference held in Haikou Sunday.

"In the next five to ten year, Hainan will achieve a tremendous economic and social progress," he said.

Hainan, the southernmost province of China, will hold a trade & investment cooperation conference from Monday to Tuesday to share its plenty business opportunities with Hong Kong enterprises.

Wei said that in the past 16 years, Hainan-Hong Kong cooperation has achieved remarkable success and Hong Kong has become the largest investment source and the most important trading partner of Hainan.

The accumulative real investments made in Hainan by Hong Kong enterprises have exceeded 4 billion US dollars, or 60 percent of the total foreign investments introduced into the province, and the Hainan-Hong Kong trade volume has taken up over 80 percent of Hainan's total volume of foreign trade.

He noted Hong Kong is an important bridge between Hainan and the world, as well as a firm support in Hainan's development in international trade, foreign trade attraction and integration with world economy.

Hainan has primarily realized the change from recovering increase to speeding-up increase, entering a new time of rapid development, which together with the excellent natural resources have ensured Hainan's future success on large-scale development and construction, he acknowledged.

"The implementation of CEPA, and stepped-up Pan-Pearl River Delta cooperation have added new motivity to Hainan's future growth and Hainan-Hong Kong Cooperation," he said.

(Xinhua News Agency November 15, 2004)