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Analysts said the ban on sales is an effective measure in fighting market speculation.

An online survey found that more than 400 hotels and B&Bs across the island had been put up for sale after sharp declines in customers.

Analysts agree that tax reduction has played a significant role in further boosting market vitality and driving industrial development.

An urban operation and management center was set up within the municipal government of Shanghai in late March to make the government's services smarter by connecting data from different administrative bodies.

Analysts from TF Securities wrote in a note that horse racing and large international sports events should be the two areas that are likely to see rapid development following the announcement of the central authorities' plan. While taking Shanghai (China) Pilot Free Trade Zone－the first of its kind in China－as an example, Hainan still lags behind in terms of the contribution of wholesaling and retailing to local GDP. In this sense, companies related to these two sectors in Hainan will have much room to grow, according to the note.