The State Council approved the establishment of the Guiyang Free Trade Zone on September 14, 2013.
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The project signing ceremony of the Guiyang Free Trade Zone [Photo/gzgov.gov.cn] |
One year later, delegates from the General Administration of Customs, National Development and Reform Commission, and Ministry of Finance came to Guizhou for a project acceptance check this September.
They spoke highly of the project's progress, standards and achievements, and they believe that the establishment of the free trade zone can bring bright prospects for Guiyang's economic and social development.
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The Guiyang Free Trade Zone [Photo/gzgov.gov.cn] |
So far, most facilities of the Guiyang Free Trade Zone have been completed, including a warehouse, inspection and quarantine center and an information system.
Attracted by the free trade zone, the Guiyang Free Trade Zone has signed with 31 projects, with a total investment of 16.85 billion yuan ($2.75 billion), involving international trade, processing trade, the service industry, the health care industry and the financial industry.
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The Guiyang Free Trade Zone [Photo/gzgov.gov.cn] |
Also, many Fortune 500 companies have built their bases and branches here, including HP, Sinopharm Group, IZP, Isoftstone and UBS. They can promote the development of the health care, big data, international finance, service, leasing, agriculture and education industry of Guizhou.
"Though the Guiyang Free Trade Zone is facing some disadvantages, such as geographical disadvantages, weak transportation facilities, high logistics cost and low geographical openness, we want to take a differentiation competitive strategy to catch up with the prosperous coastal regions," said Li Yao, director of the Guiyang Free Trade Zone administration committee.
