Three-year action plan transforms city's international image and economy

 Update:2020-12-30    Source: China Daily

Guangzhou, as an important city involved in the Belt and Road Initiative, has benefited from a three-year (2018-20) action plan to advance the construction of the BRI and made substantial progress in building a new system for high-level opening-up and an export-oriented economy.

The city has strengthened communications and launched international events to promote its image. Since 2016, 13 new consulates general and 26 international sister cities have been added.

Guangzhou has also made efforts to accelerate the construction of an international transport hub.

Guangzhou Baiyun International Airport's third phase broke ground in September. After its completion, the airport's flight network is expected to cover 50 cities in 29 BRI-involved countries and regions. It is to increase to No 11 in the world in terms of annual passenger throughput.

Guangzhou Port has opened 216 container routes, including 110 overseas routes. Its cargo handling capacity and annual container throughput both rank fourth in China.

A Japanese beverage business representative promotes a product to a potential buyer in Guangzhou. CHINA DAILY

The city has sped up the layout of new infrastructure and its 5G construction is at the forefront of the country. Guangzhou can complete 1 billion picture interface calls every day.

To support companies' expansion in the international market, Guangzhou has sped up the construction of customs clearance at ports, providing one-stop integrated services for main businesses in international trade.

From 2017-19, Guangzhou invested in 109 new companies and institutions in the countries and regions involved in the BRI.

The Sino-Saudi Jizan economic city is an important BRI project. Construction began in January.

Guangzhou Pan-Asia PET Resin Company launched a petrochemical project in the city involving more than $1 billion in investment value. It marks the largest single overseas investment project and an example of Guangzhou's advanced manufacturing industry investing abroad.

The distribution of foreign-funded financial institutions has been optimized in Guangzhou in recent years. By the end of 2019, a total of 41 foreign financial institutions from 16 countries and regions have set up 77 branches in the city.

Financial institutions in Guangzhou are participating in the construction of the BRI.

China Development Bank Guangdong branch provided 250 billion yuan ($38.28 billion) and the Export-Import Bank of China Guangdong branch set up a Belt and Road major project reserve and launched a plan.

Meanwhile, Guangzhou attaches importance to cultural exchanges.

The city led the establishment of the Maritime Silk Road protection and joint world heritage application alliance, with 26 member cities, in an effort to promote cultural heritage preservation and exchanges.

The event series Floral Whisper Along the Silk Road－Cultural Journey of Maritime Silk Road hosted by Guangzhou was held in countries and regions including Sri Lanka, Malaysia and Cyprus.