The Guiyang Free Trade Zone – located in Guiyang, capital city of Southwest China's Guizhou province – has ramped up its efforts to provide the region's small and medium-sized enterprises or SMEs with a new channel into overseas markets, with the aim of boosting exports of their products.
The zone – a comprehensive bonded area and a window for Guiyang's foreign trade – has reportedly supported over 170 SMEs in their efforts to enter the global market.
The zone has striven to ramp up the development of its import and export industry, moving to integrate it into the global industrial production and supply chain and international markets.
It has also pushed forward with the upgrade of Guizhou and Guiyang's cross-border commerce sector and boosted the high-level opening-up and high-quality development of Guizhou and Guiyang.
In addition, the Guiyang Free Trade Zone has worked with Chinese e-commerce giant Alibaba to build a B2B cross-border e-commerce service platform, in a bid to support Guizhou-based companies in "going global."
The online platform has reportedly helped the zone attract and assist more than 100 cross-border e-commerce B2B exporters, powering new growth of the province's cross-border trade. To date, the resultant export value of the Guizhou products is estimated to have reached nearly $500 million.
With the principle of bringing in more SMEs and going global, the zone is said to have united over 170 cross-border e-commerce B2B companies, collating Guizhou's products in various categories – and connected with companies from the United States, Japan, South Korea, Russia and countries within the European Union, Middle East, Southeast Asia and South America.
These efforts aim to display quality Guizhou products in the best light and to help drive Guizhou enterprises and products to go global.
It's been reported that 32 import and export companies in the zone have achieved actual tangible results in this endeavor – with 10 achieving business revenue of over $10 million. Moreover, their imports and exports value rose 40.63 percent year-on-year to reach a combined $578 million in the first half of this year, contributing 15.04 percent of the city's total and 11.5 percent of the province's total.
In addition, the zone has attracted eight processing trade companies to locate there. Their imports and exports value amounted to $250 million in the first six months, up 160.81 percent against the same period last year – taking up 43.25 percent of the zone's total imports and exports value and 20 percent of Guiyang's imports and exports value in the processing trade.