China’s Mission Hills golf club plans $3.7bn extension

“We have confidence in the rise in Chinese consumption and them having a holiday mentality,” said the company’s Vice Chairman Ken Chu, as reported by Bloomberg. “We see the growth of the game and we see the growth of this business sector.”

The Chinese government approved Hainan province, in the south of the country, as a tourist hub in January, opening the way for the construction of resorts, facilities for exhibitions and conventions, and eventually opening of duty-free shopping. Property prices have soared, increasing 53.5 per cent in April in provincial capital Haikou alone.