Under the framework, Hainan authorities encourage Hong Kong firms to determine wholly-owned, contractual and equity joint ventures within the province to have interaction in offshore oil and fuel exploration, chemical compounds manufacturing and different newly developing industrial initiatives. The province hopes to leverage on Hong Kong’s benefits as a global fund elevating platform to draw large conglomerates to have interaction within the prospecting and exploitation of offshore oil and gasoline assets, as properly as refining and producing oil and gasoline by-product Hainan has earlier released a basic framework for Hainan-Hong Kong cooperation geared toward strengthening bilateral cooperation within the development and administration of port, electrical energy and concrete infrastructure facilities. This also bodes properly for Hong Kong firms thinking about entering this market. Hong Kong companies can take part within the exploration, development and utilisation of oil and gasoline assets in Hainan.

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