Natural advantage

Article Abstract:

The province of Hainan Island was established as a special economic zone in 1988 and given the freedom to develop and experiment in capitalism with hopes it would develop similar to Hong Kong. However in 1998, Hainan has lost its status because it failed to attract foreign investment. Hainan is focusing on developing natural resources such as offshore natural gas reserves, tropical agriculture and ocean resources in addition to tourism.

Hainan, China

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Capital crisis

Article Abstract:

China is finding it difficult to reform the country's state-owned enterprises with the looming financial crisis in Southeast Asia. Bankers and investors are leery and direct investment has been forecasted to fall further in 1998. Beijing is finding it difficult to attract foreign investors without selling assets too cheaply or surrendering control of strategic industries.

Foreign investments, International aspects, Asia, Financial markets, Southeast Asia

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