Guiyang plans to enhance its real economy by attracting more investment from home and abroad, according to its recent economic development plan.
The plan was approved by the local Party's standing committee at the end of December.
Local authorities expect to introduce 30 advanced manufacturing and trade enterprises funded by leading multinational companies by 2020, with investment totaling $2 billion, according to the plan.
Meanwhile, the city plans to attract domestically invested projects, with combined investment of 150 billion yuan ($22.38 billion).
Guiyang aims to introduce $5 billion of overseas investment and 300 billion yuan of domestic investment by 2025, according to the plan.
The plan said Guiyang will attract funds to boost its advanced manufacturing sector by targeting Europe, Japan, South Korea, Southeast Asia and South Asia, as well as China's developed regions, as its major investment sources.
Through drawing on resources including excellent enterprises, qualified personnel and state-of-the-art technologies, the city intends to build up a manufacturing industry powered by digitalization, internet and intelligence.
Introducing new technologies, new industries and new operational modes will be the focus for strengthening the real economy of Guiyang, according to the plan.
When it comes to new and emerging industries, the city will launch projects relating to mobile communication terminal products, semiconductors for communications, wearable equipment, high-resolution TVs, smart home appliances, virtual reality and augmented reality products, robots and smart cars.
Other priority industries that Guiyang plans to develop are the environmental and ecological sectors, including energy and water conservation, recycling of resources, clean-energy and new-energy vehicles.
The city also plans to develop production-oriented service industries such as industrial design, e-commerce, modern logistics, product testing and certification.
To make attracting investment more efficient, the city is developing professional teams for investment promotion, using new technologies such as big data for appraising and tracking projects.
The city plans to build a global investment promotion network, with an emphasis on such regions as Europe, Japan, South Korea, Southeast Asia and South Asia, as well as the developed regions within China.
The city will cooperate with international investment agencies based in Germany, France, Italy, Switzerland, Japan and South Korea, aiming to build up ties with local companies.
It will also collaborate with the Ministry of Foreign Affairs, the Ministry of Commerce and other State organizations for investment promotion.
Guiyang has made progress in attracting investment recently.
After it attracted 1,203 investment projects in 2018, Guiyang saw the launch of 31 projects, with total funding of 23.8 billion yuan by Feb 18 this year. Another 24 projects, with investment totaling 13.6 billion yuan, became operational during the same period.
Most of the projects are related to manufacturing industries including equipment production, electronics, medicine and chemicals.
(China Daily 03/06/2019 page10)
