Guizhou calls for more global investment at CIIE

Representatives of transnational companies, foreign organizations and business associations attend Guizhou's economic and trade exchange conference at the third CIIE. [Photo/gog.cn]

At an economic and trade exchange conference held by Southwest China's Guizhou province during the third China International Import Expo (CIIE), which was held in Shanghai on Nov 5-10, the province invited more domestic and international companies to do business in Guizhou.

The call for more global investment comes as Guizhou accelerates its development as a national inland open economy pilot area, with an opening-up layout covering multiple levels and industries being formed.

Guizhou's one national new area – coupled with its two national high-tech zones, two national economic development zones, three free trade zones, one airport economic zone and 69 provincial development zones – have laid the foundation for its extended opening-up.

Over the past five years, Guizhou's use of foreign capital has grown by more than 12 percent annually. In the first three quarters of the current year, its growth in foreign trade ranked second in China and foreign direct investment increased by 84.9 percent.

To date, Guizhou has established economic and trade relationships with about 200 countries and regions, attracted 29 overseas Fortune Global 500 companies to locate operations there and sold such diverse local products such as baijiu, chilies, tea and guitars overseas.

In the first half of this year, the GDP per capita in Guizhou exceeded $6,000, while the growth rate of total retail sales of consumer goods ranked fourth in China, making Guizhou an area experiencing strong demand for all kinds of commodities and services.

Guizhou is courting all companies to come and sell global high-quality commodities to the province, to help Guizhou upgrade its consumer markets.

Guizhou wants more investment in its agriculture industry, industrial parks, big data industry and scenic areas, which all have the potential to secure great returns for investors.

To that end, the province is striving to provide the best business environment for investors – with its online government services platform, targeted services for foreign-funded enterprises, reforms and streamlined red tape, delegation of powers and improved regulations and services.