Guiyang Free Trade Zone (FTZ) and Guian New Area FTZ in Southwest China's Guizhou province have become important platforms for the province in terms of carrying out international trade, attracting foreign investment and promoting industrial transformation and upgrading, according to Luan Yan, secretary of the Party working committees of Guiyang FTZ and Guian New Area FTZ.
Over the past five years, Guiyang FTZ has completed fixed asset investment of 16.69 billion yuan ($2.54 billion). The value added of its industrial enterprises above designated size and its total foreign trade import and export volume reached 317.46 million yuan and $4.65 billion, respectively.
Guian New Area FTZ completed a fixed asset investment of 32.25 billion yuan. Its total industrial output value and the total foreign trade import and export volume reached 83.82 billion yuan and $6.4 billion, respectively.
Luan said the two zones will complement each other in resources, policies and industries to become new engines for the province's export-oriented economic development.
In terms of high-level opening up, the two zones will speed up the improvement of infrastructure, modern logistics and policy innovations. By 2025, the Dulaying international land-sea logistics port and a national logistics hub for production and services will be basically completed in Guiyang.
In addition, the two zones will speed up the construction of a modern industrial system. They will cultivate emerging industrial clusters involving bonded processing, modern logistics, cross-border e-commerce and electronic information to make breakthroughs in the development of foreign trade and the digital economy.