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Property, Travel Stocks Soar After China Announces Measures to Develop Hainan

  • Xi unveiled a package of measures to improve Hainan’s economy
  • Travel and infrastructure stocks lead the pack in Shanghai
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Chinese President Xi Jinping laid out a number of measures to boost the Hainan province. Bloomberg’s Oanh Ha reports.(Source: Bloomberg)
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Investors snapped up any stocks attached to Hainan, seeking to capitalize on Chinese President Xi Jinping’s efforts to boost the economy of the island resort.

Lottery, travel and infrastructure stocks were among the biggest gainers in Shanghai and Hong Kong on Monday, after China unveiled measures over the weekend to transform the island popularly known as "China’s Hawaii." The initiatives, which coincided with the 30th anniversary of Hainan as a special economic zone, ranged from a fund to help turn the province into a free trade port, prioritizing tourism to supporting the development of horse racing and sports lotteries.