A premier beach destination in Hainan province, Sanya is on the fast track to raise its popularity further among international tourists and racing enthusiasts.
In December, Sanya signed a cooperation agreement in Hong Kong with Lianxin International Investment Corp to build a world-class electric vehicle entertainment complex aimed at hosting big-ticket events such as the Formula E World Championship, the E1 World Electric Powerboat Series and International Motorcycling Federation races.
The project, involving an estimated investment of 5 billion yuan ($738 million), will promote electric mobility and green energy solutions in cities.
Once completed, Sanya's racing circuit is expected to become one of Asia's most influential new energy vehicle-themed projects, according to the international investment company.
The complex, which will be divided into a racing track, a theme park, a hotel and a convention center for automobile manufacturers, promises to combine motor sports events with leisure and business activities.
The objective, according to LianÂxin International, is to create a cultural, sports and tourism destination integrating competition and entertainment with travel and shopping.
The project is currently in its designing and land acquisition phases. So far, 70 percent of the land needed for it has been acquired and existing structures there demolished. The remaining land acquisition and demolition process is expected to be completed in the first quarter.
Sanya Investment Promotion Bureau said on Monday that the city government has made the project its priority. It has set up a team to supervise land acquisition and demolition, so that the project can be accelerated.
"We hope to build an entertainment complex that promotes the electric car racing culture and also features luxury goods," said Wang Chao, general manager of Lianxin Land Investment, a subsidiary of the corporation in Hainan. "The racing track will pass through the hotel, which will have a VIP club and offer catering services during races."
The complex, scheduled for completion by the end of 2025, is expected to attract an average of 5 million tourists every year and create more than 10,000 jobs. It is envisioned as "a global landmark in automobile culture" and a venue to hold exhibitions for automobile products and new technologies.
Following its commercial launch, the Sanya complex will offer a world-class urban racing track that is expected to be certified by the International Automobile Federation and the International Motorcycling Federation.
Lianxin International has organized all Formula E races in China, the most recent competition being held in Sanya in March 2019. "We will strive to hold the championship again, and as early as in the next season," Wang said, adding that he hopes the new track will make Sanya a regular venue for Formula E races and other world motor sports championships.
Frequent international sports events are expected to promote Sanya and Hainan as must-visit destinations among race car drivers and racing fans from around the world. "It will help Sanya develop into an international tourism consumption center and empower the high-quality development of the Hainan Free Trade Port," Wang said.
