Guiyang Free Trade Zone (FTZ), in the capital city of Southwest China's Guizhou province, had collected 125.77 million yuan ($19.22 million) of general public budget revenue by the end of November, surpassing the zone's target for the whole year, 121 million yuan, one month in advance.
According to Guiyang FTZ officials, the growth rate of the general public budget revenue in the zone was relatively low during the outbreak of the COVID-19 epidemic. It moved into a period of full recovery and steady growth in the fourth quarter.
Officials said the zone has taken a variety of supporting measures to achieve its annual target, including strengthening investment promotion. A total of 42 projects have been signed and 51 intention projects have been prepared to increase revenue sources.
The zone allocated more than 7.6 million yuan of incentive funds to help enterprises resume work and production. It also reduced 11.3 million yuan of rents for enterprises' workshops, warehouses and offices.
In addition, the zone positively secured financial support from the higher authorities to optimize the business environment and provide a platform for enterprises' development.