Hainan Airlines ranks first among Hainan's most profitable companies — report - TASS

HAIKOU, Ocvober 24. /TASS/. Air carrier Hainan Airlines ranked first in the ranking of the most profitable commercial organizations on the southern island of Hainan, stated a report released by the regional association of entrepreneurs.

According to their estimate, in 2019, the airline’s operating income exceeded 535.14 billion yuan ($ 80.22 billion), more than 10 times higher (50.12 billion yuan or $ 7.51 billion) than that of Hainan Petrochemical — a subsidiary of the leading Chinese petrochemical corporation Sinopec, which holds the second place.

The top five richest companies on Hainan also included agricultural goods manufacturer Haiken Group with 23.3 billion yuan ($ 3.49 billion), energy company Hainan Yisheng Petrochemical ($ 2.96 billion) and leading regional electricity supplier Hainan Power Grid ($ 2.67 billion).

The list of the ten most profitable companies includes the tobacco, construction, rubber and pulp and paper industries of the province. The honorary rating includes representatives of other promising industries that are most actively contributing to the dynamic growth of Hainan’s gross regional product, including enterprises that carry out their main activities in the transport, scientific, technical and banking sectors.

By 2025, the Chinese government intends to create an “international center for tourism and consumption” on Hainan. In order to do so, the “Eastern Hawaii” with their unique natural landscapes, thick rainforests and great climate will establish a developed network of hotels, which blend perfectly with white sandy beaches stretching along the coastline. The combination of an exotic subtropical nature and a modern eco-friendly infrastructure will boost tourist inflow to the island from the most distant parts of the world.