The Guiyang Free Trade Zone – located in Guiyang, capital of Southwest China's Guizhou province – is striving to become the most distinctive national industrial park and a hub for opening-up in the province, according to a recent interview with Yao Feiyang, secretary of the Party working committee of the zone.
Focusing on an export-oriented economy, the Guiyang FTZ has been approved as national processing trade industrial park, a core area of China's cross-border e-commerce comprehensive pilot zone and a national demonstration area for import trade promotions and innovations.
During the first 10 months of the year, the value of Guiyang FTZ's foreign trade was $2.3 billion, representing a hefty year-on-year increase of 91.6 percent.
Moving forwards, plans are for the Guiyang FTZ to expand its cooperation with countries involved in the Belt and Road Initiative, as well as deepen exchanges with neighboring areas such as Guangxi, Yunnan and Chongqing.
Furthermore, the Guiyang FTZ will improve the functions of its international dry port, coordinate with provincial logistics platforms to reduce costs and improve logistics efficiency, so as to participate in the New International Land-Sea Trade Corridor.
The zone plans to develop both bonded industries and other industrial sectors – such as advanced equipment manufacturing, electronic information manufacturing, imported grains and oil, as well as food processing – to expand the scale of its industrial economy, cross-border e-commerce and service trade.
Relying on existing preferential policies, the zone will enhance its integrated development with Baiyun district and implement investment attraction policies involving industry supply chains for energy storage batteries, chip packaging and testing, imported grain and oil and food processing.
For the development of residential companies and project construction, the zone will provide support – in terms of innovation, intellectual property protection, finance and talent – and build a sound business environment.