Guizhou Special

Guizhou blends in China's 'dual circulation' development |  Updated:2022-04-08

Over the past five years, Southwest China's Guizhou province has participated in the domestic and international economic cycles, enhanced opening-up, and introduced foreign capital and technologies.

Guizhou's direct China-Europe fight trains were put into operation in 2021. The multimodal transport train between Zhanjiang Port and Guiyang Dula International Logistics Port, and the pilot freight train between Weng'an-Machangping Railway and Zhanjiang Port debuted, connecting Guizhou and Guangdong provinces.

Guizhou's economic development zones saw 839 investment projects, 503 of which received more than 50 million yuan ($7.86 million) each.

Guizhou's tire exports were valued at 1.56 billion yuan, an increase of 21.2 percent year-on-year; tobacco exports were valued at 380 million yuan, an increase of 15.3 percent year-on-year; and agricultural product exports were valued at 4.96 billion yuan, an increase of 37.3 percent year-on-year.

For the 14th Five-Year Plan period (2021-25), Guizhou will increase the convenience of trade and investment, enhance the opening of commodities and resources, and create an open economic system and supervision model based on international convention.

By 2025, Guizhou's proportion of net exports in GDP will reach the national average, the total foreign trade value is expected to exceed 160 billion yuan, the actually utilized foreign capital is expected to exceed $800 million, and the total output value of cross-border e-commerce is expected to exceed $1 billion.

To further adhere to the dual circulation development model, Guizhou will improve the development and services of its nine national open and innovation platforms, enhance cooperation with cities in East China, promote co-construction of industrial parks, and attract talent, technologies and capital from East China.

Guizhou will also develop open economy relying on the port economy. By 2035, Guizhou will form a multi-level port system with each port complementing each other's advantages.

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