Guiyang FTZ selected as national demonstration area

The Guiyang FTZ continues to thrive. [Photo provided by Guiyang FTZ]

The Guiyang Free Trade Zone in Guiyang, capital of Southwest China's Guizhou province, was selected as one of China's 29 national demonstration areas for import trade promotions and innovation, according to a news report on Nov 3.

The national demonstration areas aim to promote import businesses, industrial development and consumption, as well as innovate in policies, services and business modes.

Established in 2013, the Guiyang FTZ is the first comprehensive free trade zone that was put into operation in the province, as well as one of Guizhou's 10 national open and innovation platforms.

It is the second time that zone has been recognized at the national level, after it was approved as a national processing trade industrial park in 2021.

In recent years, the Guiyang FTZ has continued to improve its infrastructure and has built the only comprehensive foreign trade service platform in the province.

To date, the Guiyang FTZ has opened freight train routes to Vorsino in Russia and Zhanjiang Port in South China's Guangdong province, as well as a transfer service for the China Railway Express on the China-Laos Railway.

Guiyang is widely said to have realized high-speed growth rate in its export-oriented economy. In 2021, the value of the Guiyang FTZ's imports and exports totaled $1.82 billion, with a year-on-year increase of 51.64 percent.

In the first 10 months of 2022, the value of its imports and exports reached $2.3 billion, achieving year-on-year growth of 85.48 percent.