Guiyang promotes comprehensive investment attraction

A video and telephone conference on the investment attractions of Guizhou province in Southwest China, which was held on April 26, has inspired the Guiyang municipal investment promotion bureau to make concerted efforts to attract new investment and ensure the smooth implementation of projects.

Since the COVID-19 outbreak, the bureau has started exploring new paths including cloud-based investment, negotiation and contract signing through the high-tech means of 5G technology: the Xifeng county investment promotion bureau tasked Guizhou Jiwei Medical Apparatus and Instruments Limited Company with putting mask production into operation with a total investment of five million yuan, while Qingzhen city struck a deal worth 2.51 billion yuan through online videos.

The latest statistics show that Guiyang introduced 303 new industrial projects from January to April of this year, with a total investment volume of 50.79 billion yuan ($7.15 billion); the actual paid-up investment of those newly-introduced projects is 46.56 billion yuan; and the newly set-up projects total 134. The first three months also saw the commencement of 91 major industrial projects funded with over 100 million yuan and 10 major projects with over one billion yuan.

In addition, Guiyang has strengthened efforts to attract investment from other provinces, with officials visiting many spots in the city of Shenzhen, as well as 163 enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area, 60 associations and intermediary organizations. Also, two enterprises signed framework agreements with a total investment of 500 million yuan, while 16 enterprises had a formal contract funded with 4 billion yuan. Moreover, 48 enterprises are interested in carrying out relevant investigations in Guizhou.

According to relevant officials, Guiyang, in its next phase, aims to integrate resources, innovate patterns, and conduct joint investment to realize year-round goals.

Apart from improving the accuracy of investment and building teams, the bureau will establish a project database to propel investment projects into certain scales, niche markets, and stages of development. The integration of investment resources and the cultivation of think tanks are also being made a priority.