A total of 30 clusters for the nighttime economy are scheduled to be built in Guangzhou. [Photo/Guangzhou Daily]

Guangzhou released an implementation plan on enhancing the city's function as a global commerce and trade center on Feb 13.

It is expected that Guangzhou will be initially built into an international consumption center, global trade hub, international commerce and trade service center, as well as a city of international exhibitions by 2022.

The plan noted that Guangzhou's overall import and export volume of foreign trade will exceed over 1.1 trillion yuan ($157.6 billion), while the total retail sales of consumer goods will increase by 7 percent on average annually by 2022.

Guangzhou will have a better industrial foundation in commerce and trade as two or three international city consumption districts will be established in the city in the next three years, along with four functional areas integrating business, tourism, and culture, as well as 30 clusters for the nighttime economy.

Improvements will also be made in the support system of business and trade, as the number of international liner ship lines of Guangzhou Port will increase to 129, with its annual cargo throughput reaching 650 million metric tons and its annual container throughput reaching 25 million TEUs (twenty-foot equivalent units) by 2022.

Guangzhou will work continuously in becoming an international hub city for cross-border electronic commerce, establishing a number of independently-owned export brands. The city will also act to become a hub city of the Belt and Road Initiative, deepening cooperation in trade and economy with BRI countries.

In addition, Guangzhou will fully improve its comprehensive transportation hubs, devoting efforts to infrastructure construction, such as the expansion of the third phase of Guangzhou Baiyun International Airport and the fourth phase of Nansha Port.

The plan also stated that Guangzhou will create a more convenient business environment, carrying out measures like reducing the time of approval and examination for construction projects.