(Yicai Global) Dec. 1 – Hainan province off the southernmost coast of China will push forward establishment of development funds for new operational types of tourism and tourism banks in an effort to step up the development of tourism resources and commodities.

Hainan provincial tourism development commission signed a cooperation agreement with the Shanghai-based financial firm, Zhongjin Guotai Holding Group Co., xinhuanet.com reported today. Besides funds and financial institutions, both parties will establish a scenic area management company to enhance the quality and operation level of the touristic areas.

From 2016 to 2020, Hainan province plans to invest in 488 tourism projects with a total investment amount of CNY839.3 billion (USD127 billion). With continuous improvement on the transportation infrastructure facilities, Hainan has already built an expressway and a high-speed railway running through the island. It also plans to construct a tourism highway and unveil sea bus services.

Renowned as the "Oriental Hawaii," Sanya in southern Hainan is an international tourist city with stunning tropical seaside scenieries. Its famous attractions include the "Remotest Corners of the Globe," Yalong Bay and Sanya Bay.