1999 sanya port authority and zhongcheng group (an enterprise under the Ministry of justice) jointly established sanya zhongcheng international passenger travel co., ltd. with a registered capital of100,000 yuan as the project company to develop the project. After 200 1 year, many private capitals gradually entered Sanya Zhongcheng Company through equity acquisition, leading the development process of Phoenix Island, and the registered capital of the company was gradually upgraded to 1 100 million yuan. In 2002-2004, the island-building project around the sea was completed, and in 2005-2006, the wharf, joint inspection building and cross-sea bridge project were completed.
From June 5438, 2006 to October, 2006, Zhejiang Guodu Holdings Co., Ltd. became the largest shareholder of Sanya Zhongcheng International Passenger Travel Co., Ltd., and the registered capital of the company was changed to 500 million yuan. Subsequently, the overall planning of the project was re-demonstrated and designed, and the planning scheme of landmark buildings on the island was adopted in September 2007. In June 2007, the project company was renamed as "Sanya Phoenix Island Development Co., Ltd.".