Guizhou speeds up service industry development

As the novel coronavirus (COVID-19) epidemic eases, Southwest China's Guizhou province is encouraging service industry related companies to resume work by launching supporting policies, which are expected to reduce the epidemic's impact on companies’ operation, employment, financing, and tax.

The Guizhou Provincial Development and Reform Commission and the Guizhou Provincial Department of Commerce co-established special work teams to serve companies involving logistics, big data, entertainment, sports, education, health, public service, and technology.

Through its efforts in promoting work resumption, Guizhou has become one of the first provinces to resume traffic, announce the school reopening date, and gradually open scenic spots to the public.

In 2019, Guizhou chose tourism, big data, big health, logistics, finance, trade, technology R&D, culture creativity, senior care, and exhibition services as 10 major industries to realize innovative development.

Through this strategy, Guizhou's service industry has kept a stable and rapid development. In 2019, the added value of Guizhou's service industry reached 843.03 billion yuan ($119.13 billion), occupying 50.3 percent of the province's GDP.

Among which, the revenue of the tourism industry reached 1.23 trillion yuan with 1.14 billion tourists, both an increase of over 30 percent. While the growth rate of Guizhou's digital economy has ranked first in China for four years, the index of big data development ranks third nationally.

As e-commerce rises, Guizhou's sales volume of agricultural products reached 32 billion yuan, an increase of 8.3 percent. The sales volume of wholesale and retail also increased by 11.5 percent and 8.2 percent respectively. The business volume of its accommodation and catering industries increased by 10.4 percent and 14.3 percent respectively.

In 2020, Guizhou aims to invest 85.8 billion yuan to launch 364 key projects, including 153 ongoing projects, such as a big data center, a cultural tourism city, a logistics center, and a guitar manufacturing center.

Guizhou will continue to promote productive service industries developing towards specialization and high-end value chains, while encouraging its consumer service industries to target high-quality and diversification, which will lead to rapid economic growth.