The Company has also invested on hotels and relevant projects in Hunan and Hainan provinces, participated in developing the tourist market. Hunan Xin Xiang Grand Hotel is a three-star hotel with land occupation of 7.28 mu and total construction area of 15,725 square meters, which boasts 126 sets of guest rooms, and for more than one year of business, it is plenty of guest with occupation of guest rooms exceed-ing 80%. The Golden Phoenix Seascape Hotel under construction in Hainan is located along “Ye Luo Veranda”, a sightsee-ing avenue of SanyaBeach, wich land occupation of 7.25 mu and total construction area of 19,000 square meters, which will be completed and open for business by the end of 2002 as a four-star hotel. The hotel boasts 108 stand-ard guest rooms and 78 sets of various apartment rooms, totaling 380 beds, and its second-phase project development willo witness additional land occupation of 25 mu.